Renting a long-term property in the Canary Islands has become a daunting task for those with low incomes. Owners are demand inflated prices, months of rent in advance, and proof of income significantly higher than the rental value, making it nearly impossible for many.
Amid ongoing debates about how to manage this sector, Doris Borrego, the president of the Canary Islands Vacation Rental Association (ASCAV), has addressed the issue on Radio Marca Tenerife. Borrego said, "We've always cooperated with the authorities, yet all we've received are setbacks."
Borrego and ASCAV support people who own one or two holiday let properties, claiming that many rely on this income. However, they oppose the proliferation of entire buildings dedicated to holiday rentals. Borrego clarified, "We do not represent large property owners, nor do we represent entire holiday rental buildings, or intermediary websites attempting to enter the market."
"Demonisation is not the solution," Borrego emphasised. She noted a growing distortion in the holiday rental market and urged against blaming all participants. With the impending draft law on tourist housing in the Canary Islands, Borrego called for a balanced approach, recognising both honest operators and those taking advantage of legal loopholes.
ASCAV has long advocated for differentiation between owners with multiple properties and those with only one or two. Borrego highlighted a concerning trend in Las Palmas, where individual property owners have been sidelined in favour of entire buildings and blocks.
According to ASCAV's data, holiday rentals contribute significantly to the islands' economy, comprising one-third of its total economic activity. Borrego also pointed out that the Canary Islands voluntarily pay the General Indirect Canary Islands Tax (IGIC), despite no legal obligation to do so, demonstrating the sector's commitment to compliance.
As discussions on holiday home rental regulation continue, stakeholders like ASCAV hope for a balanced approach that protects both residents' interests and the tourism industry's vitality.
