Room for rent in Palma, Mallorca

Renting of rooms is becoming increasingly common in Palma.

Andrew EdePalma29/09/2024 08:31
TW
0

Natalia Bueno, the former president of the API Association of Real Estate Agents, acknowledges that there have always been homeowners who have rented out rooms to make ends meet. These cases are quite a different matter to what is an increasing phenomenon, in Palma in particular - the renting out of rooms to exploit difficulties with accessing accommodation and the high prices to rent whole properties.

She points out that by renting out rooms rather than whole properties, owners can avoid certain obligations under the tenancy act that protect tenants.

"It is totally unfair competition. They do in fact rent the entire property, but they resort to these tricks to circumvent the law."

Related news
Street in Palma, Mallorca

Average rent in the Balearics more than two and a half times higher than ten years ago

More related news

Another advantage is that the income, in general, is higher. The average price of renting rooms in Palma is 500 euros, according to the property website Idealista. The average cost of renting an entire apartment is about 1,000 euros. With a three-bedroom property, owners can therefore receive 1,500 euros - 500 euros more. There is lower risk. In the event of one tenant not paying the rent, the losses are not as great as with 'tenant-squatters' of whole properties, assuming - that is - that the other tenants are paying the rent.

This said, avoiding compliance with the tenancy act can mean that tenants cannot declare themselves 'vulnerable'. "Owners can throw them out of their homes at any time."

Bueno is critical of these practices. "They are doing a lot of harm to real estate agencies and to citizens."