Letting a property can be a good way to make it pay for itself, but managing tenants, contracts, repairs and renewals takes time and knowledge of the rules. If you live abroad or simply do not want to deal with it, our rental management service takes care of it for you, for flats and houses in Palma and across Mallorca.
This page focuses on long-term residential lets, which are the core of our management service. If you are looking for a home to rent, see our page on long-term rentals in Mallorca.
Before the let: setting the property up properly
A good tenancy starts before the first tenant arrives. We help you with:
- A realistic rent, based on the property and comparable lets in the area. Our free valuation covers rental value too.
- The paperwork: energy performance certificate, a valid cédula de habitabilidad and up-to-date utility contracts.
- The condition of the property: what needs fixing before letting, and an inventory with photographs of the furniture and appliances.
- Insurance: checking that your home insurance suits a rented property and considering rent guarantee cover.
Finding and selecting the right tenant
The most important decision is who you let to. We advertise the property, answer enquiries and screen candidates before proposing anyone to you. We ask for proof of identity and of income (employment contract, payslips, tax returns or other evidence of solvency) and, where possible, references from previous landlords.
We send you a written summary of each suitable candidate, and the final decision is always yours.
A contract that protects you
Long-term residential lets in Spain are governed by the Urban Leases Act (Ley de Arrendamientos Urbanos, LAU). It sets minimum durations, rules on deposits, rent updates and the rights of both parties. We prepare the tenancy agreement with legal support so that it complies with the law and covers what matters to you: the rent and how it is paid, the deposit and any additional guarantee, who pays which bills, rules on pets, repairs and the condition of the property at the end.
We also take care of the security deposit (fianza) required by law and its lodging where regional rules require it.
Day-to-day management
Once the tenant is in, we act as the point of contact:
- Monitoring rent payments and following up any delay straight away.
- Handling tenant requests and incidents, and coordinating repairs with trusted tradespeople after your approval.
- Checking that utility bills and, where agreed, community fees are paid.
- Applying the annual rent update when the contract and the law allow it.
- Keeping you informed in writing, with a clear record of every payment and incident.
End of the tenancy and renewals
When a tenancy comes to an end, we manage the notices, check the property against the initial inventory and settle the deposit, deducting any justified damage or unpaid amounts. If you want to continue letting, we start looking for the next tenant in good time to keep empty periods short.
If the tenant stops paying
Non-payment is every landlord’s concern. We act early, with written reminders and, if needed, a formal demand. If the situation is not resolved, we work with legal support to start the appropriate legal action for eviction and recovery of the debt. Acting quickly makes a real difference.
Holiday lets: a word of caution
Short-term tourist lets in Mallorca are tightly regulated. They require registration and a tourist licence, and in Palma new holiday lets are heavily restricted, especially in apartment buildings. Letting to tourists without the correct licence can lead to substantial fines. Before considering this route, check the rules for your specific property. Our property legal check can help.
Keeping the property in good shape
A well-maintained home attracts better tenants and keeps its value. Between tenancies we tell you what is worth doing, such as painting, small repairs or updating appliances, and we always ask for your approval before any work is commissioned.
Ideal for owners who live abroad
Many owners of property in Mallorca live outside Spain. Our management means you do not need to travel to sign contracts, receive tenants or deal with a broken boiler. Everything is reported to you in writing, in English, Spanish, French or Russian.
Thinking of selling instead?
If you are not sure whether to let or sell, ask for a valuation covering both options. If you decide to sell, see how we sell property in Mallorca. Note that selling a property with a sitting tenant is possible, but the tenant’s rights must be respected.
Frequently asked questions
How long does a residential tenancy last in Spain?
Under the LAU, the tenant can extend the contract each year up to a legal minimum: five years when the landlord is an individual and seven when it is a company, unless the contract says longer. There are some exceptions, which we explain case by case.
Can I choose the tenant myself?
Yes. We screen candidates and give you our recommendation, but you always have the final say.
Do you manage properties outside Palma?
Yes, we manage properties in Palma and in other towns across Mallorca.
Tell us about your property
Write to us at info@inmobiliariapalma.es or use the contact form. Tell us where the property is, what type it is, whether it is furnished and whether it is already let. We will explain how we can manage it for you. We reply in writing, in English, Spanish, French or Russian.