What to do if I want to rent my vacation apartment all year round

If at any point you have considered “I want to rent my apartment”, you already know that the first decision you have to make is whether to put it up for rent as a habitual residence or as a tourist apartment. But what happens if at the time you opted to manage a vacation home and now you are considering renting it out for the whole year to the same tenant?

Why rent my apartment all year round?

In recent times, tourist rental has been a very profitable business in Spain. There is no doubt that it is a good way to obtain income, but you should not lose sight of the fact that it is not exactly passive income.

To manage a tourist apartment you have to do a lot of commercial and management activity. From registering the property on Google Business to collecting and paying the tourist tax (if applicable in your area), promoting the property, being on hand for key handover every time a tenant arrives, etc.

All this implies extra work that perhaps does not entirely compensate you or simply you cannot assume. Hence, many owners of tourist apartments are considering renting them out as habitual residences.

The quarantine is a good opportunity to carry out the works that the apartment needed to improve it. At the moment it is still possible to carry out this kind of work during the quarantine, so it is the best opportunity to renovate the bathroom or install a state-of-the-art lock that improves the use of the apartment when the current crisis passes.

Can I rent my apartment through a real estate agency so that it is a habitual residence?

You must pay special attention to the regulations of your autonomous community or even your locality. In most cases it is prohibited for dwellings that have a license for tourist rentals to be rented out permanently.

Find out more about this topic and, if compatibility is not possible, proceed first to deregister your home as a tourist accommodation. If you don't, and you put it up for traditional rental, you can receive a significant fine.

Once you have deregistered your tourist accommodation, you can rent your home with total normality, either through a real estate agent or privately.

How much can I rent my apartment for?

This depends a lot on the type of dwelling in question, its characteristics and the place where it is located. If you want to get a tenant as soon as possible, it is better to set a price that adjusts to the market, neither very low nor very high.

If you set a price well below the market, you will rent the property soon, but you will not be getting all the income you should. While if you set a price too high, it will be difficult to find a tenant.

Assume your role as a landlord

Being a landlord of a tourist accommodation is not the same as being one for a habitual residence. You will create a long-term relationship with your tenant and you must be prepared for it, since this implies a series of rights for you but also a good number of obligations.

If you have already made the decision and have thought “I want to rent my apartment long-term” start by doing the necessary administrative tasks to be able to put it up for traditional rent, study the market to see what is the most appropriate price and make the necessary adjustments so that the housing has everything a permanent tenant will need.

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