Many owners are interested in renting their properties under this modality.
However, in this article, we will tell you some reasons why renting your apartment to tourists in Madrid is not always the best deal.
If you are tired of tourism rentals, this could be your article.
In the same way, many owners tired of the tourist hustle and bustle prefer to rent in their usual residence form or, at most, in a seasonal rental contrato (contrato de temporada). In this sense, the newspaper “El Mundo” published a good article in our blog ot 3 rental types also published in El Mundo (the three formulas for exploiting the rent.)
The seasonal rental (Alquiler de temporada)
The solution for those who leave tourist contracting sector
It is for the medium or long term. This alternative is perhaps the safest and most accurate.
In many cases, you will save time managing the apartment, and you will not need the legal permits that a tourist rental entails.
It is common to think that apart from the tourist or residential rental, there are no other options, but this is ideal if you are tired of tourism rental, as in reality, seasonal rental offers owners and investors an excellent solution.
Many people do not believe it but a seasonal rental can be more profitable in non-central areas.
Yes, it will always be a sure benefit if you manage it correctly and with the advice of a professional. So, we hope that you want to find out about services for owners.
The reasons for the “boom” of tourist rentals in Madrid
We are one of the European cities with more touristic apartments, although a large majority of the apartments violate parts of the regulation.
As a consequence, the main incentive to exploit is tourism. In this modality, the high profitability in scenarios of high occupancy However, to have a complete picture of the situation, the negative aspects of tourist rentals must also be analyzed.
Conflicts with neighbors
To the extent that your building is not exclusively for tourist apartments, it is very likely that you will have conflicts with “non-tourist” neighbors, and all of them, or most of them, are tired of tourism rentals.
So, it is obvious that tourists have a different pace, and when they are on vacation, they tend to be noisier and less considerate of other type of tenants
Tourist rental regulation
There is strict regulation of tourist rental; there are rules that establish the requirements that homes must meet and rules that affect the design and possible contracting modalities.
It is also mandatory to request that the Community of Madrid previously authorize the housing activity for tourist use.
Impairment and management expenses
Renting the apartment to tourists translates into a deterioration in the conditions of the property much higher than that which occurs in seasonal rentals of 1 or 2 years.
You should also consider that maintenance and cleaning expenses will be much more frequent.
With this, we do not mean that you should completely rule out the possibility of putting your apartment up for rent for tourists; it is up to you. But if you are going to do it, it is important that you take some measures: Regulation and authorization:
- Check all the rules that regulate tourist apartments and make sure that your property complies with them. Remember that before starting the activity you need authorization.
- Hire a specialist: the fact that a professional is in charge of managing the reservations, arrivals, and departures of renting tourists can help you avoid early wear and tear on the home, among other things.
- Switch to seasonal rental: You avoid all the legal risks and use a rental manager with a proven client portfolio. Consider DFLAT Madrid.