Category : Rentals

Financial Taxation News Rent out

Energy certificate for rental

By dneutiens@segurantis.com

Holiday rentals must now have an energy label since 2021

Since 1 June 2021, it is mandatory to have an energy label for holiday homes in addition to a rental licence. If you do not comply with this and an inspection follows, the fines can be high.

Like many other countries, Spain has the energy label for dwellings, or the 'certificado energético'. The energy label gives an indication of how energy efficient a house is. If you sell or rent a property, you must have a valid registered energy label.

According to the Spanish Statistical Office (INE), there are almost 300,000 holiday homes for rent (officially registered) in Spain. Owners of these tourist properties are obliged to mention the energy label when renting out the property (promotion and advertising included). The energy label must also be stated in the rental contract.

The regional authorities of the 17 autonomous regions are responsible for ensuring compliance with this law. In the event of inspection and non-compliance, fines can be between EUR 300 and EUR 6 000. The fines can range from light to serious. More information can be found under.

The fines are applied immediately. This applies to the owners of the property but also to the platforms, landlords, intermediaries where a property is offered for rent.

Sources:

Government Gazette BOE-A-2021-9176

https://www.idealista.com/news/vacacional/mercado-vacacional/2021/06/28/791130-atencion-propietarios-el-certificado-energetico-ya-es-obligatorio-para?xts=582065&xtor=RSS-86

https://www.idealista.com/news/vacacional/mercado-vacacional/2021/06/28/791130-atencion-propietarios-el-certificado-energetico-ya-es-obligatorio-para?xts=582065&xtor=RSS-86

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Taxation Legal News Real estate Rent out Insurance

Stricter rules for private rentals

By dneutiens@segurantis.com

Who is subject to this?

You rent out your holiday home or vehicle on your own initiative

You have a property in Spain that you use as a holiday home or second home and you rent it out during the periods that you are not here. If you do this, then from now on, in addition to a rental licence , you must also report the identity of your tenants to the local authorities. If you also rent out a car or just your car, this reporting obligation also applies.

This obligation stems from the Royal Decree and serves to promote public safety and prevent terrorist activities or organised crime.

Register in the registers of the Secretaria de Estado de Seguridad.

There will be two types of registers for registering the identities: one for the rental of tourist accommodation and another for the rental of vehicles. These registers will be accessible to the competent Spanish authorities for the detection and prosecution of criminal offences.

Touristic rentals

If you rent out a property for less than a full year, this is an economic activity and there are legal and tax obligations attached to it. A rental licence, adjustment of the home insurance for third party liability and the declaration of your rental income are part of these additional obligations.

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Taxation Legal News Properties Rent out

Lettings in Spain - What about costs?

By dneutiens@segurantis.com

Are you renting out your property in Spain? What costs can you deduct?

You are a non-resident who rents out his property(s) on a regular basis at short notice for the purpose of holiday rentals. From the moment you receive compensation for this, you are obliged to keep a number of legal matters in order (fiscal and legal) including the declaration of rental income, the administrative obligations in this respect and the payment of taxes due.

This declaration is only made if you have let in a certain quarter of the current calendar year. If you have not let, you do not submit a declaration.

If you have rented out, you must declare the net income. The net income is the income you have left after you have deducted from the received income certain costs that are part of the subject letting or not.

What are the usual costs?

  • The compensation of the community
  • Invoices for utilities (water, electricity, gas, alarm system, TV, internet,...).
  • Residential insurance - IMPORTANT THAT YOU MUST NOTIFY RENT. Suppose your tenant causes damage to third parties or causes fire one will come to the owner!
  • Municipal tax (IBI)
  • Mortgage interest on the rented property
  • Costs incurred by the legal services for keeping your claim in order
  • Additional costs if you use a cleaning service, key management
  • Additional costs you incur for the promotion of your property