At the beginning of 2024, a homeowners' association near Puerto Banús, Marbella, decided to ban short-term vacation rentals. The main reason: complaints from residents about noise and disturbances caused by some properties managed directly by their owners.
Has this ban successfully prevented these properties from causing occasional disturbances? Eight months have passed since the decision was made, and the answer is clear: NO. The homeowners’ association’s resolution is not retroactive, meaning properties with an existing tourism license can continue operating legally.
However, the ban has had another, much more serious and unexpected consequence for those who voted in favor: property values in this community have started to drop significantly. Here’s why.
The changing landscape of vacation rentals
In the 1980s and 1990s, only a few vacation homeowners in the area considered renting out their properties when they weren’t using them. Several factors explain this:
Most owners used their homes in the summer, and for the rest of the year, there was no real demand for vacation rentals in Marbella.
There was no established culture of renting out vacation homes when they were not in use.
Reliable property management services were scarce, making it difficult for homeowners to rent out their properties professionally.
The financial burden of purchasing a vacation home back then was not nearly as significant as it is today.
What has changed since 2015-2016?
Many vacation homeowners in Marbella, particularly foreign owners, do not use their properties in the summer. At the same time, demand for vacation rentals outside peak season has increased significantly.
The mentality of vacation homeowners has shifted. In many areas of Marbella, where vacation homes dominate, 75% of buyers only consider purchasing if they can rent out their property during the months they are not using it.
The rising value of properties in recent years has led many buyers to finance their purchase, relying on rental income to cover mortgage payments.
The growth of digital platforms and professional rental agencies has made it easier for owners to manage rentals without stress.
The boom in tourism has increased demand for vacation rentals, which are often more affordable than hotels, especially for families.
Are there more unintended consequences?
Absolutely. As in any industry, where there is demand, there will be supply. If vacation rentals are banned, illegal and unregulated rentals will rise, as individual owners will continue renting without oversight, while professional rental agencies will not operate in non-compliant properties.
At Banús Rentals, our experience confirms that the best solution to reduce disturbances, improve coexistence, and prevent property depreciation is proper regulation and oversight.
In the following video, Jesús García Ahumada, CEO of Banús Rentals, shares the solutions we have successfully implemented in our managed properties, supporting our approach.
Solutions implemented by Banus Rentals
✔ Security deposit and clear regulations
Each guest is required to provide a security deposit upon check-in, ensuring the protection of the property and adherence to community rules. We also provide detailed information about the community's coexistence guidelines to prevent disturbances to neighbors.
✔ On-site guest reception
We personally welcome each guest to their property, explaining the community rules to ensure they fully understand and respect them.
✔ Noise control technology
Our properties are equipped with noise sensors linked to a central monitoring system that tracks sound levels 24/7. This allows us to intervene immediately in case of any disturbances.
✔ Continuos support and assistant
Our offices operate 12 hours a day, seven days a week, and we provide 24/7 phone support for both guests and property owners.
Proven results
Thanks to these measures, we have maintained high service quality and guest satisfaction. With over 1,900 bookings in 2024, our incident rate has been below 0.05%. These results demonstrate Banús Rentals' efficiency and commitment to excellence in vacation rental management.
Are you a property owner? We have the solution for you
If you want to maximize your rental income legally and without conflicts with your community, Banus Rentals can help.
Contact us today to discover how to manage your property legally, safely, and profitably.