"Renting an apartment in Spain is really profitable, especially when it comes to tourist rentals. However, in order to make a successful investment in this area, to obtain a stable and high income and to reduce the possible risks before buying, you need to do a lot of analytical work. This is necessary, first of all, in order to choose the right object of investment and calculate all the costs. Most likely, you will need the help of a competent realtor and investment consultant. If everything is done correctly, your property in Spain can bring you a profit of up to 10% per annum.
The answer depends on how you want to rent your accommodation - for long-term or short-term (tourist) rentals. In the first case, the registration of a license is not required, while in the second it is mandatory to have on hand a so-called tourist license, or, in other words, to register your property in the register of tourist accommodation (Registro de vivienda turística). The process is rather lengthy, given the slowness of the Spanish bureaucratic system, but if you are going to rent your place, make a license is necessary, otherwise you can run into a very heavy fine. In some cases, objects are sold with a ready-made tourist license, and it is simply reissued to the new owner.
If you rent an apartment in Spain, you have to file an income tax return and pay personal income tax annually. All rental income must be declared, unless the profit does not exceed €1000 per year. However, the taxation procedure differs depending on whether the taxpayer is a resident of Spain or not. The taxpayer is entitled to tax deductions for certain expenses. Read a detailed article on this subject here.
Property management is a service that allows you to profit from your home located in Spain, without the need for personal presence in the country. You can rent out your home for long-term, winter (seasonal) and short-term (tourist) rentals, and you are relieved of all the worries associated with the process. The property management service in Spain includes: finding clients to rent out apartments in Spain; arranging for clients to view the property; receiving payment for the rent; accepting and checking the apartment after the tenants move out; preparing the apartment for new clients, including purchasing everything necessary (the cost is paid by the owner by cheque) and arranging for the cleaning of the apartment.