How to Rent Out Property in Barcelona in 2024?

How to Rent Out Property in Barcelona in 2024?

Barcelona, the touristic, cultural, and beach center of Spain, where rental housing consistently enjoys immense popularity, is a favorite destination for both foreigners and Spaniards. Owners of villas, houses, and apartments in Spain can run an incredibly profitable business in this city and earn a high income regardless of the season. In this article, we will tell you how to rent out your property in Spain, using Barcelona as an example, what to consider, and which documents you need to prepare.

Content:

Barcelona's Attractiveness for Tourists and Expats

Barcelona is perfect for both vacation and permanent living. It has a warm climate, interesting and high-quality shopping, numerous leisure options, and vast opportunities in education. In 2021, the volume of rented housing on the market of the entire Spanish fund was 22%. In 2022, this figure significantly increased due to the growth in the number of expats. Now, in 2024, residents of the former CIS countries continue to move to Spain. In October, the number of rental advertisements increased by more than 60%. Spain is often chosen by international exchange students. The country has prestigious universities and opportunities for rapid professional development. Every year, rental prices are rising.

It's worth noting that during vacation periods, most of the housing in Spain is booked in Barcelona, Valencia, and Palma de Mallorca.

How to Rent Out Property in Barcelona in 2023?

How to Rent Out Property?

If you have purchased an apartment or houses in Spain and do not plan to live there permanently, you can always rent out your property. Consider the following parameters:

  • Rental period. You can offer your property for short- or long-term rent. Most often, property owners in Spain rent it out daily or, for example, for the summer. Many consider buying property in Spain exclusively as an investment and rent it out for a long period, for example, an academic year, or sign a contract for several years.
  • Location. If you plan to rent out housing as tourist apartments, it is desirable that they are located close to the beach, promenades, and popular attractions.
  • Type of property. The most popular types of property now are studios and apartments. However, if you are the owner of a spacious villas in Spain with a pool, you can easily rent it out for the summer season. This type of housing is especially in demand among families or groups of friends coming to Barcelona to relax during the hot time of the year.

It's essential to comply with the local legislation. If you rent out an apartment in Barcelona as a tourist accommodation, you must have a tourist license. All procedures are regulated by the Urban Rental Law (LAU), which sets the rules for the rental sector in Barcelona. Your residential object must be legalized. If you rent out an apartment without a license, you will have to pay a fine of up to €90,000.

What Documents are Needed to Rent Out Housing?

You will need a small package of documents to carry out all procedures legally. These are:

  • Certificate of Habitability – a certificate of suitability for habitation. It's a confirmation that the property meets all the necessary conditions for living on legal grounds. In Barcelona, it's issued by the Generalitat of Catalonia.
  • Energy Efficiency Certificate. According to the rules from 2013, all residential properties must have such a document. Otherwise, a fine applies. The certificate indicates the amount of CO2 that the property releases into the atmosphere.
  • Lease agreement. After finding and selecting potential tenants, a lease agreement is drawn up with rules for all participants in the procedure.

Note: if you rent out property for long-term, in the bills for electricity, water, and gas, your name must be changed to the tenant's name. If it is seasonal, short-term, or daily rental, no changes are required.

How to Rent Out Property in Barcelona in 2023?

Features of Renting Housing for Different Terms

If you are interested in tourist rental, make sure the housing is fully equipped, furnished, and equipped with Wi-Fi, towels, and bed linen. Tourists can rent housing daily like a hotel. You can advertise your property on websites like Airbnb.

Medium-term rental involves providing housing for a period of 3 to 11 months. From 12 months, it turns into a long-term rental. The demand for this type of rental is huge – housing in Barcelona never stands idle. With medium-term rental, the apartment should also be fully furnished and equipped, connected to the Internet, and equipped with TV and a washing machine. Bed linen and a towel are not needed. Tenants use their own.

Long-term rental implies renting housing for at least 1 year. Usually, a contract is signed for 3 years.

What Else Should the Owner Know?

For successful rental, you can post professional photos of the property, a 3D video overview, and add a good selling description. All this will increase the value of your housing and attract the maximum number of interested potential tenants.

At the same time, many property owners prefer to use the services of real estate agencies. A contract is signed with specialists; reliable tenants are sought by professionals. They fully manage the rental and regulate all issues.

How to Rent Out Property in Barcelona in 2023?

Buying Property in Spain

The rental business in Spain brings good profits to property owners. In addition, when buying a house or apartment on an installment plan or mortgage, the owner can repay the remaining payment by renting out the property, which is very profitable and convenient.

If you are considering buying an apartment or house in Spain, contact us for a free initial consultation. We will tell you the best way to purchase property in this sunny country in 2024.

Share
Subscribe to newsletter
Subscribe