What you need to know about starting a vacation-rental management company in Spain
Spain is one of the most attractive holiday rental markets in Europe…
The demand
Offering stunning beaches, great weather and vibrant culture, Spain has become a popular destination for tourists from all over the world. Many of these tourists prefer to stay in holiday let properties, such as apartments and villas, making the demand for holiday let management in Spain grow rapidly.
The COVID-19 pandemic has also had an impact on the holiday let market in Spain, with many travellers now preferring to stay in self-contained properties rather than hotels or resorts. In 2022, Spain witnessed an impressive 130% increase in the number of visitors compared to 2021.
The Opportunity
Renting a property on the short-let market is very lucrative – with some homeowners reporting an impressive increase in their rental income of up to 700% compared to traditional long-term renting. It is also more attractive to homeowners such as buy-to-let investors and overseas property owners. Second homeowners who leave their property unoccupied for extended periods are at a greater risk of being illegally occupied by squatters, who can take months for authorities to remove from a property due to legal procedures.
The Problem
Buy-to-let investors and second homeowners understand the benefits from letting out their properties on the short-let market. However, time commitments, property location and personal circumstances are just some of the factors that prevent existing property owners from reaping the rewards of short-letting.
The Solution
Holiday let management companies solve these problems; providing a convenient solution for property owners who seek to profit from their property without the hassle of managing the rental process themselves. Pass the Keys franchise partners offer a range of services, including advertising, guest communication, check-in and check-out, cleaning, and maintenance, ensuring that the rental process runs smoothly and efficiently. By utilising our services, property owners can generate income from their properties without the need to invest their time and resources into managing the rental process.
However, if you are considering becoming a Pass the Keys franchise partner in Spain, there are certain things you should know…
- Vacation Rental Regulations In Spain
All holiday rentals in Spain must fulfil a series of obligations which are reflected in each autonomous community’s vacation rental laws. This is because in Spain each Autonomous Community has the responsibility of establishing their own regulations in this industry.
In addition, these obligations will depend on the classification of the vacation rental in question. Accommodation that provides services will be classified as belonging to the hotel industry meaning they must comply with stricter regulations.
Fortunately however, when you become a Pass the Keys franchise partner, we will help you navigate this bureaucratic maze and ensure that you are fully compliant with all the necessary regulations.
- The Right Location Will Maximise your Business Profits
Coastal areas have been identified as the best places to invest in Spain for a Holiday Home. This has been attributed to them having a greater density of visitors and having more tourist activities available. However, being close to a natural park or in a city like Granada or Seville can attract many visitors as well.
With holiday homes spread across more than 5000 km of Spanish coastline, as well as many popular cities to choose from there is plenty of choice to start your business. When you join us as a Pass the Keys franchise partner, we will work with you to ensure that you are in a viable area, so you can hit the ground running.
What we offer
Since Pass the Keys established itself as a franchise in the UK in 2015, we have experienced hockey stick growth. Over the last 12 months, we have made it our mission to achieve similar results for Spanish homeowners through recruiting high calibre franchise partners.