Showing posts with label HOLIDAY HOMES. Show all posts
Showing posts with label HOLIDAY HOMES. Show all posts

Monday, 8 July 2013

Clampdown on undeclared holiday rentals

Illustration only
SPAIN Dinero negro is the Spanish term for 'under the counter' or 'illegal' money. There are some 120,000 undeclared summer rental properties in the country, which the central government has recently aimed big guns at under the aegis of the Ley de Medidas de Flexibilización y Fomento del Mercado del Alquiler de Viviendas, or the Measures of Flexibilisation and Development of the Property Rental Market Law, which came into effect on June 1 when it was published in the Official State Bulletin (BOE). The law has two basic objectives: to try to change the Spanish habit of property acquisition and encourage the more 'advanced' system of rental. The other objective is clearer, and probably easier to accomplish: the uncovering of illegal, or undeclared, summer rentals.>>>