At Pollentia Properties, real estate agency in Pollensa, we are constantly looking towards the future. We have an in depth knowledge of the real estate market in Mallorca and that is why we have recently added a new section to our website: Properties with holiday rental licenses. We want your investment in Mallorca to be as advantageous as possible, so if you are interested in obtaining guaranteed and immediate financial benefits from your purchase, this is the section for you. In this blog article we will also be explaining what legal requirements your property must meet in order to be used as a holiday rental property. Would you like to know more? Keep reading!
Buying real estate is a great starting point for making a profit on your investment in Mallorca. Which is why, if you want to transform your property into a holiday rental, it is important to be in possession of a valid license in order to avoid unnecessary complications. According to our colleagues at Pollentia Rentals, the holiday rental agency in Pollensa, having been in possession of a valid license at some point does not mean that you are exempt from renewing it in the future: licenses expire, and the law is always changing.
The license is obtained for the first time following the presentation of the Declaración Responsable de Inicio de Actividad Turística (a declaration statement), also known as the DRIAT. That moment signifies the application of current legislation and the obligation to update licenses regulated by the AETIB (Agencia de Estrategia Turística de las Islas Baleares; an agency which deals with tourist regulations in the Balearic Islands).
The answer to this question contemplates four possibilities. In first place, licenses granted before 2006 do not need to be renewed. Secondly, those granted between 2006 and 2012 must be renewed every 6 years. This period of 6 years is counted from the moment the DRIAT is submitted. Thirdly, licenses issued after the 9th of August 2012 (the date in which the law 8/2012 came into effect) and before the moratorium (1st of August 2017) do not need to be renewed. Fourthly, and lastly, licenses granted after the 1st of August 2017 are divided into two: single family-dwellings not subject to horizontal property restrictions do not need to be renewed and those relating to other dwellings, multi-family dwellings, habitual dwellings or single-family dwellings subject to horizontal property restrictions must be renewed every 5 years.
Considering the fact that to obtain a holiday rental license for your properties does not require a great effort, at Pollentia Properties, real estate agency in Pollensa, we wanted to make things easy for you. In our catalogue of properties with holiday rental licenses we offer a wide range of properties for sale which have a valid holiday rental license, ready to be rented and produce a profit for you. Do you have any further queries or questions? Don’t hesitate to contact our real estate agents. We will always be available to offer our expert advice to ensure that your investment in Mallorca is a complete success.
