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HOW TO LEGALLY RENT OUT MY HOME FOR VACATION?
5th July 2023Renting your home during the vacation period can be a good way to earn extra income. However, it is important to do so legally to avoid fines. Here are 6 tips for legally renting your home during vacations:
- Define the leasing regime: Decide whether you will rent your property as a second home or as tourist accommodation.
- Familiarize yourself with the current legislation and regulations in your autonomous region. Some regions have specific rules for tourist rentals.
- Meet the basic requirements that apply everywhere, such as having a certificate of habitability, fully furnishing the property, and providing an emergency contact phone number.
- Register your property with the Register of Tourist Accommodations if you plan to rent it as tourist accommodation. This is not necessary for second home rentals.
- Be aware of any restrictions, such as maximum rental periods and prohibitions on renting rooms in certain properties.
- Declare your earnings in your tax return. Individuals should include the earnings in their income tax return (IRPF), while professionals should declare the value-added tax (IVA). Also, consider local taxes, such as tourist taxes.
Remember that illegally renting can result in significant fines and future prohibitions on renting for this purpose.