By Damon Mitchell •
Published: 05 Mar 2020 • 13:54
FINDING a buy-to-let property in Mallorca with an existing holiday rental license is the perfect real estate investment which allows you to earn passive income immediately.
When buying property with rental licenses in Mallorca you have the legal right to rent out your property on popular online rental platforms such as Airbnb. These buy to let properties include luxury villas, frontline apartments, townhouses and charming country homes which can also be used as private holiday residences.
Unless you have a valid ETV license issued by the local government you’re not allowed to rent out your property in Mallorca as holiday accommodation. Single-family residences which do not share any common spaces are the most likely to receive holiday rental licenses. The process of applying for a rental license in Mallorca can be very time-consuming and expensive. Hence, it’s always best to purchase buy to let villas which already have existing licences, which you can use immediately.
Many properties and areas in Mallorca such as Palma Old Town have become off-limits to holiday rentals and short-term accommodation. Only apartments with existing and valid licenses which have been agreed to by the community and registered at the land registry can be listed on holiday rental sites.
Country homes or fincas, as they are called in Spain, are among the most sought-after buy to let properties in Mallorca. These rustic properties are traditional family homes which are found in the countryside with spectacular views, gardens, swimming pools and often close to historic towns.
It is always worth highlighting that profitable rental property in Mallorca doesn’t always have to include holiday accommodation. Many international residents are constantly looking for long-term rental properties, particularly frontline villas which can be equally lucrative over long-term periods.
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