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Just to warn anybody looking to fund a mortgage in Majorca by letting out their apartment or villa on a weekly basis – don’t do it!
People are being denounced and fined for doing this (Thirty thousand euros). It is against the law, and all it needs is an awkward neighbour to find an advert for your property on the Internet and you are in trouble.
An internet advertisement is all the proof that is needed to show you are renting illegally on a weekly basis. The only properties which can be legally rented weekly are those designated on the deeds of the property as Tourist Apartments.
Estate Agents, and sometimes even lawyers, are not telling potential buyers about this.
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Being discussed in http://www.eyeonspain.com in the Renting your property – Short term board under heading legalalising holiday lets
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