johnc

What do I need to do to legally rent out my mate's place for holiday makers. It is on a complex and he wants it all legal and above board.Where can I find out what the regulations are?
Also, how do I know the companies that offer to do the renting are registered and legal?
johnc

fixer

Ist question is the complex touristic or residencial. david
residential min three months and friends and family only but widely ignored.

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Apartments in Cristian Sur,Tenerife Sur and San Marino

PeterRayner

Fixer is correct.

You need to establish what licence the complex has.

The question for your friend is that if it has a "touristic" licence then he can use an agency or 3rd party to let it. The next question is then does the on-site management company have sole letting rights, If so you are legally obliged to use them. If not then he can use a 3rd party.

If its a "residential" complex then commercial lettings through an agent are restricted to 3 months minimum. Having said that the law also allows a crucial concession whereby the apartment owner can short let to family and friends directly.

In effect this means almost anyone providing that the actual bookings are made direct with the owner alone.

fixer

Just to add to what peter said to be legal you also have taxes to consider Tenerife letting tax and if uk resident the tax man wants his cut .
You have to put a yearly self assesment form in and pay him his due anything you pay in Tenerife is decuctable and you can claim for Mortgage interest depriciation on fixtures and fittings and some other exspenses this is what i do again a lot dont.
Remember he knows you have a bank account in tenerife as your bank tells them. David

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rene 1

check also the status of the community as in a residencial complex the minium renting period is often 6 months.

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