Spotahome Responds to Government’s Seasonal Rent Regulation
Spotahome, a leading real estate portal in Spain with 25,000 mid-stay property listings, has issued a statement in response to the new regulations announced by the Minister of Housing and Urban Agenda, Isabel Rodríguez. The company asserts that there has been no significant shift from long-term rentals to seasonal leases since the housing law was passed in May of the previous year.
New Decree to Tackle Seasonal Rent Fraud
Minister Rodríguez intends to present a decree law to the Council of Ministers in the coming weeks. This regulation will require landlords offering mid-stay rentals (less than a year) to justify the reasons behind this choice of contract. The objective is to eliminate what she has described as "legal fraud"—landlords using seasonal rental contracts to bypass the restrictions of the urban leasing law, which imposes limits on annual rent increases and mandates a minimum lease duration of five years for traditional rentals.
Spotahome’s Perspective on Market Trends
Spotahome maintains that the market for mid-stay rentals and room rentals (non-vacation) has remained stable. The company indicates that the percentage of complete apartment and room rentals for mid-stay periods has not fluctuated, implying that there has been no shift from traditional rentals to seasonal contracts.
The average duration of reservations on Spotahome continues to hover around five months. Additionally, there has been no notable increase in bookings for eleven months, the maximum allowed for mid-stay rentals. The company asserts that there is not a substantial number of long-term rentals being converted into seasonal ones.
Profile of Tenants and Landlords
The company emphasizes that 93% of its rental bookings come from individuals residing in a different city than where the property is located. The remaining 7% are typically individuals seeking temporary accommodation due to home renovations, recent property purchases pending completion, divorces, separations, or relocations for health or family care reasons.
Spotahome adds that 85% of their property owners are private individuals, usually owning just one or two properties. Many landlords even rent out a room within their primary residence. The tenant demographic includes university students, doctoral candidates, MBA students, Erasmus participants, digital nomads, and expatriates—all mostly under 35 years of age and often from international locations or other Spanish cities.
Recommendations for Housing Policy
Spotahome urges the government to adopt regulations that do not further reduce the available housing for both mid-term and long-term rentals. They suggest fiscal incentives for both landlords and tenants, particularly those facing more significant barriers to accessing housing. Such measures would presumably increase the real estate available for rental purposes, rationalize pricing, and encourage landlords to favor mid-term and long-term rentals over vacation leases.
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