And start making money out of your investment
Mallorca is one of the most popular holiday destinations in the world and Pollensa, on its beautiful north coast, is fast becoming the jewel of the crown.
Easily accessible, with regular flights to the island most of the year, modern infrastructure and services, wonderful weather and a fine selection of villas to stay in, it is easy to see why.
Ever greater numbers of British and northern Europeans are visiting the area every year and choosing to stay in a holiday home rather than a hotel, and thus the rentals market is thriving.
A villa rental offers them all the independence and comforts of home, the safety of a private residence and the luxury of a stunning property in what is one of the most exclusive areas on the island.
Property owners in the Pollensa area are discovering that by letting their homes our during the holiday season they can not only cover the costs of maintenance and upkeep, which can soar if you have a villa with outdoor space, but can also generate an income while they are not in residence. This is undoubtedly a win-win situation, given that leaving a property unattended is not only bad in terms of security, but also detrimental for the upkeep of your home, allowing it to fall into disrepair.
Besides maintenance, leaving a home empty for long periods of time is a waste, given that you can let it as a holiday home and make some money from it.
It is hardly surprising that more and more owners are choosing to put their villas up to let for a few weeks, or months, and make a regular profit.
If you are looking to invest in property to let, Sol Mallorca Real Estate can help you find the right kind of villa, one that will generate the most income.
Holiday makers drawn to the Pollensa area are following a certain kind of dream; they are mostly looking for a villa or country home with a pool, garden and views, ideally near the sea, an apartment on the beach or a townhouse with a patio and possibly a small pool in the garden.
Villas of all sizes have their own particular markets, and a small 2 or 3 bedroom villa can be just as attractive as a large 8 bedroom. But what it's vital you consider the bedroom/bathroom ratio, which guests insist on, and the amount of outdoor space, which will make their holidays more or less enjoyable.
This is a heated subject at the moment, with town and regional governments squabbling on the best way forward, hotel lobbies insisting on more controls on rental properties and owners uncertain how to proceed.
With regulations and laws changing all the time, the best way forward is to make sure all the paperwork on the property is in order and up to date. For help obtaining the required licence, Sol Mallorca Real Estate can assist you, and show you how to go about applying for and getting a rental licence.
Any property owner in the Balearics wishing to let their home out on a seasonal holiday basis is now required to hold a tourist licence to let their property.
The body responsible for this is the ATB - Agencia de Turismo de Baleares or the Balearic Tourism Agency and they have a fleet of inspectors doing the rounds and checking up on holiday lets all over the island.
The fine for failing to have the correct licence can be anything between 3.000-12.000€, much heftier than the price for the actual rental licence, which is around 200-300€ to register for start of activity.
Once you register you will be asked to submit a series of forms, ticking all the specifications of the property against a checklist, as well as floor plans for the entire property, and will eventually receive a visit from a ATB agent who will check all the information you gave them is correct.
With your rental licence in hand you are now free to let your home out as often and for as much as you like!
You will then be required to pay a yearly letting charge of about 30€ per person.
Title deed of the Property
A google maps location
Cadastral registration
DRIAT - a Responsibility Statement
ETV - A checklist on all the property specs, fittings and equipment
Quality Requirements Report - Property Resume
Technical Report - Floor Plans and property project
Energy Certificate
Certificate of Habitability
Documentation - Owner's ID
For one reason or another, the ATB has decided that only single property buildings, as in detached and semi-detached townhouses and villas, can obtain the licence. Apartments, which share the same building with other owners, and are horizontally attached, so to speak, cannot.
Somewhat confusingly, apartments can still be let according to the Spanish Law for Urban Rentals (L.A.U), but are not allowed to offer additional services.
The rental licence can take up to 3 months to process, so if you are interested in renting your property in Pollensa as a holiday let, it is best to apply as soon as possible.
Our Office in Puerto Pollensa
+34 971 86 57 67You can find us in Paseo Saralegui 48
07470, Puerto Pollensa
Our Office in Puerto Alcudia
+34 871 114 800You can find us in Carrer dels Mariners 8
07400, Puerto Alcúdia
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