Short term holiday lets in the city are banned by the council although it is believed that the practice is still widespread. Inspectors from the Council of Mallorca have been checking websites and tourist forums to try and catch owners who are renting out homes and apartments illegally. The Palma city council decided to take action over holidays lets in an effort to keep long-term rents under control and to try and ease the shortage of rental properties with long contracts.
A council spokesperson explained; we decided to take action because there was a shortage of longer term rental properties with owners offering their properties to tourists for short terms because it was far more lucrative."
The move caused an outcry in some quarters with bar and restaurants association says that short-term holiday rentals by tourists were giving the city a cash injection.
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People owning flats or houses are not going to let them long term to locals, as you can't get them out when you want. Change the laws first, then people MIGHT consider renting to locals, but if no law is changed, there will be NO more rentals to locals. People might rather sell up.
Headline misleading. Its should read "ILLEGALLY Rent out your home to tourists in Palma and face a 40,000 fine". Please note that this has been in place and enforced for what, 4 years now? And bloody difficult to get away with if you advertise at all. Nothing new here.