Property Rentals

Rental yield relative to mortgage costs have declined over recent months, but renting your property can still be a useful source of income if you do not occupy the property year-round.

The Spanish Rental Law of 1995 clearly differentiates between Temporada contracts and Vivienda contracts. These are short-term (up to 11 months) and long-term (renewable for up to five years). Both offer protection for landlord and tenant but it is important to know which to prepare and sign.

Should you decide to declare your rental income in Spain for tax purposes, there are so many deductions and allowances, you will probably pay very little tax on the property.

Failure to serve notice as specified under Spanish law can lead to contracts being automatically renewed.

ALBA Consultas can prepare, review, translate and advise on contracts protecting both tenants and landlords.