As a property owner, you might find yourself with more questions than answers about monthly apartment rentals. Rest assured; this is quite common. To help you navigate this process, we have put together a guide to clarify some key points. With over 20 years of experience, Lodging has assisted many property owners like you in understanding and managing short-term rentals. To start, here is a quick overview of what you should keep in mind if you are considering renting out your property in Barcelona for short-term stays.
What are monthly apartment rentals?
Monthly apartment rentals, also known as seasonal rentals, are designed for tenants who need a contract for less than a year but up to a maximum of 11 months.
How does this rental work?
If you own a property in Spain, you can set up a rental agreement for periods longer than 32 days but no more than 11 months. Often called “monthly rental” or “seasonal rental,” this type of agreement is attractive to various tenants, including relocated employees, digital nomads, and postgraduate students.
Is a license required to rent my property by the month?
No. One of the advantages of this type of contract is that, unlike holiday rentals, which require a specific license, monthly rentals do not. You can rent out your property on a monthly basis as long as you clearly specify the reason for the short-term stay, whether it’s for work, study, medical treatment, or another purpose.
How do you draw up this type of contract?
At Lodging Management, we can help you draft a rental agreement for your property. The contract will clearly define the duration, rights, and responsibilities of both you and your tenant. It is essential to include the specific reasons for the rental period to ensure the agreement meets both your needs and those of your tenant and gives you the security you require as a landlord.
How do I declare income from a monthly rental?
As specialists in short-term rental management in Barcelona, we can advise you on how to comply with your tax obligations. For contracts shorter than a year, rental payments must be declared as income from real estate capital. It is important to keep accurate records of your income and expenses related to the property to avoid any issues when it is time to file your taxes.
Which is better: monthly rental or holiday rental?
Deciding between a holiday rental and a short-term monthly rental depends on whether you have a tourist licence. In Barcelona, only properties with a legal licence can be rented out as holiday rentals. However, any owner can use their property for a temporary rental on a monthly basis.
Monthly rental contracts not only provide regular income but also offer the flexibility to use your property when needed. If you are considering renting out your property, it is a wise move to understand the legal and tax implications and consult with an expert. With over twenty years of experience in managing monthly rentals, Lodging Management can take care of the entire process for you, so you can relax, sit back and enjoy the benefits.
