Friday, December 12, 2008

Regulations for holiday homes in Valencia announced

New regulations have been announced last week for the investors who own and rent out their properties in the Valencia region of Spain.
Valencia region in Spain
Angelica Such, the Valencian Region's Minister of Tourism, has presented draft regulations for holiday homeowners to register them with the tourist authorities and the rules would apply to anyone who rents out their home on a short-term or long- term basis. Tourist authorities believe that this will enable better control of holiday lettings by the department of tourism, and improve the quality of service.

Commenting on the new regulations, Angelica Such said, "The fundamental to establish strict regulations is to provide our tourists with holiday accommodation that is as regulated as possible." She added that the regulations would address the issues and discontent in the tourism business. She believes that the new regulations would cut down tax evasion, as many rental investors do not declare the rental income.

Spanish Property Insight has reported that the draft regulations yet to be passed into law by the regional parliament, still in initial stages will also introduce a new category of ‘aparthotels’, offering 24-hour reception services.