The Balearics college (professional institute) of finca administrators believes that it is necessary to regulate tourist letting as a business activity. It is therefore in agreement with the national government's recent decree regarding housing and renting.
The college says that the government's intervention was necessary in order to tackle the serious situation that has risen with rental accommodation. This has created economic and social vulnerability for a large number of families. The cost to rent has risen since 2011 and accommodation has become more and more scarce. At the same, tourist letting has given rise to problems regarding coexistence.
Despite this, the college is of the view that the government's measures will not provide a solution unless owners have legal security for placing their properties on the rental market. Nevertheless, the market has witnessed an about-turn from the years of economic crisis when renting was fostered because of the contraction in sales. The "eruption" of tourist letting that then occurred provoked a consistent increase in the price to rent.
There is an acceptance by the college that tourist letting is a fact, given that owners look upon it as being more profitable and more secure in the sense that they don't have problems with non-payment of rent. Because of all this, the college wants there to be a more precise definition of tourist use in the tenancy act so that this is differentiated from traditional seasonal letting.
