Editorial: Holiday Rental Mania

It may continue to have its gray areas, which should be cleared up when the new Tourism Law finally comes in to effect in the Balearics, but the holiday let market is growing.
The Association of Balearic Tourist Apartments, Aptur, reported  a “boom” this week.
Apparently, over the past year, the number of properties on its books has risen by 100 percent.
It now has some 350 members which own 7,000 rental properties.
Surely, based on this fact, holiday rentals are an important part of the local tourist industry. After all, many are self catering and therefore those renting the properties have to shop, hire cars, eat out etc. and that generates a significant amount of money for the local economy.
So, I hope, as do scores of property owners, the new law regulates the sector as opposed to trying to outlaw it, which was one of its options not so long ago. Don’t look a gift horse in the mouth, otherwise people will simply go elsewhere.