New rules in relation to tourist rentals in Spain come into force today
The new rules for tourist rentals imply a control power over tourist rentals by the Community of Owners
The use of properties as a “tourist” lease can be prohibited by agreement of 3/5 parts of the totality of owners and shares in the community.
The same majority will be required for the creation of additional fees or an increase in the share of the common expenses of particular units where said tourist rentals are carried out. These modifications cannot imply an increase of more than 20%.
These agreements will not have retroactive effects and once adopted by the above mentioned quorum, must be notified to the absent owners, so that within 30 days from the notification they can vote against, otherwise it will be understood that their vote is in favor of the agreements which have been adopted in the meeting.
Once this prohibition is approved, it will have to be registered at the Land Registry so, third-parties, prospective purchasers are publicly informed.