Before renting a property, it is crucial to verify whether you qualify as a large property owner. This status, defined in the Housing Law 12/2023, entails specific commitments and significant measures. measures.
With the implementation of this legislation, it is essential to remain attentive to both rights and obligations. Therefore, it is advisable to understand what they are, the considerations involved, and the risks that must be assumed.
Being a large property owner means owning a certain number of urban properties intended for residential use. This legal concept was created to regulate ownership and promote access to housing for people with fewer resources.
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The Housing Law 12/2023 refers to a large property owner as a natural person or company owning 10 or more urban residential properties. This concept also applies to residential constructions exceeding 1,500 m2.
However, an Autonomous Community may adjust this concept, provided the properties are located in a territory declared as a high-pressure area. This is the case in several parts of Catalonia, including Barcelona and its metropolitan area, where owners with 5 or more properties are considered large holders.
The law also distinguishes between large property owners and small property owners, as outlined below:
Both parties must stay informed about any changes or updates that may affect their long-term management.
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Spanish legislation has formalized the term "large property owner" to identify those who have a significant impact on the housing market.
The Housing Law defines large property owners as those who own ten or more residential properties. It also extends this definition to owners of five or more properties located within the same designated stressed area.
Additionally, this classification also includes those who own residential buildings with a total floor area exceeding 1,500 m².
Of course, the law is explicit regarding the properties that determine this status. In this category, the following are considered:
It is important to clarify that the law excludes commercial premises, storage units, garages, offices, and other non-residential assets from this classification.
As established by law, this status entails certain additional commitments. Likewise, it is subject to a set of regulatory measures intended to balance operational practices with tenant security.
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Without a doubt, being in this position entails more stringent obligations, making it advisable to act strategically and anticipate potential legislative changes.
Rental housing in Spain is governed by Housing Law 12/2023. However, the government has also exercised its authority in designated high-pressure areas, such as Barcelona, which has been declared a stressed area in its entirety.
Among the most relevant considerations in these areas are the following:
These requirements and regulatory provisions, although designed to protect both parties, also pose a challenge for large property owners, as they must adapt to a more restrictive regulatory framework.
The presence of large property owners in Spain has been the main reason for the implementation of specific legislation. In order to regulate real estate operations and ensure general welfare, the following laws apply:
It is important to note that this issue remains on the legislative agenda. Therefore, as the market evolves, legislation is expected to continue adapting in favor of the rights of all parties involved.
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Being a major property owner has a significant impact on the real estate market. Indeed, this status plays a key role in managing rentals, especially when entering into or renewing a lease, increasing rent, or in eviction cases.
They have a duty to offer alternative rental options to tenants in vulnerable situations. In this way, they must provide full cooperation with public authorities in order to ensure access to housing in cases of housing emergencies.
The status of a large residential property owner entails certain benefits; some of them are outlined below:
Greater opportunity to negotiate with other involved parties due to their market position.
Having multiple investments reduces risk, which is why it is common to hold properties in different developments or locations.
Greater access to financial resources, which ensures more opportunities for high returns compared to small property owners.
They obtain up-to-date information to support informed decision-making, as well as faster investment execution.
The investment strategy is more flexible, as they have greater capacity to invest across different financial sectors.
Considering that the Autonomous Community does not currently impose specific restrictions, the status of a large property owner entails several risks and challenges, including:
The City Council may adopt different policies (more flexible or stricter) regarding this status. There is also the possibility of temporary agreements and the development of feasible housing in collaboration with local authorities.
Even when large property owners operate legally, they may become targets of protests, media campaigns, or social movements if they fail to maintain a good relationship with tenants.
In this regard, it is important to be transparent in every respect, offer fair prices and services, uphold ethical standards and accept social responsibility.
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In Spain, large residential property owners are a decisive force due to their strong presence in rental management. However, alongside rights come responsibilities that ensure housing accessibility and residential stability.
Despite its influence on supply and demand, the regulatory framework establishes measures such as price limitations, increased costs, greater bureaucracy, and legal uncertainty arising from long-term political changes.
Being aware of these considerations allows large property owners to operate legally. Likewise, it helps foster a fair and sustainable relationship among the parties involved.
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Objective:
1.057.019,75 €
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