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Form 100. Personal Income Tax Return 2024

10.4.15. For the landlord of real estate intended for permanent housing in the territory of the Balearic Islands. Expenses related to rented housing

This deduction is applicable only once in the first fiscal year in which compliance with all requirements is verified.

This deduction does not apply to taxpayers who died before December 13.

Amount

50% of the expenses paid by the taxpayer during the fiscal year for damage insurance premiums, maintenance and repair expenses and, if applicable, other expenses inherent to the community of owners, tax expenses, expenses linked to the formalization of rental contracts and expenses to obtain energy efficiency certificates related to the rented homes.

The limit of this deduction is up to 1,500 euros .

However, this limit is increased to 1,800 euros for taxpayers who, meeting all the requirements applicable to this deduction, rent the property to the Administration of the autonomous community of the Balearic Islands or to an entity comprising the instrumental public sector of this administration for subletting to the corresponding beneficiaries within the framework of the Secure Rental programs or other specific programs approved for this purpose by the autonomous community. To apply this increased limit, it is sufficient that this requirement is met with respect to one of the rented dwellings.

These limits will be applied for the total number of homes rented by the taxpayer.

Requirements

  • That the property is located in the Balearic Islands.

  • That the property is leased during the tax period in which the expenses are incurred.

  • The duration of the residential lease agreement with the same tenant must be equal to or greater than one year, without prejudice to the mandatory extensions for the landlord regulated in the Urban Leasing Law (LAU).

    However, the right to apply the deduction is not lost in the event of the death of the tenant, withdrawal after 6 months from the conclusion of the contract and before the initial minimum duration of one year has elapsed (Art. 11 LAU), or termination of the rental contract due to breaches not attributable to the landlord in the cases provided for in the LAU.

  • That the security deposit has been made in favour of the Balearic Housing Institute.

  • That the taxpayer declares in the personal income tax the income derived from the rental income of the home as income from real estate capital.

  • That the property has not been rented for at least the two fiscal years immediately preceding the fiscal year in which the deduction is applied.

  • The rental income for each tenant must not exceed 15 euros per square meter of usable surface area of the rented dwelling.

    For these purposes, all concepts that have been agreed upon and are the responsibility of the tenant, such as property tax, community of owners, etc., will be computed.

  • That the taxpayer's total taxable income does not exceed 84,480 euros in the case of joint taxation and 52,800 euros in the case of individual taxation.

  • That expenses are justified by documentary evidence, through invoices or equivalent documents, which must be kept available to the tax authorities.

Completion

You must record the expenses incurred. 

Additionally, if any of the homes have been rented to the Administration of the autonomous community of the Balearic Islands or to an entity comprising the instrumental public sector of this administration for subletting to the corresponding beneficiaries within the framework of the Secure Rental programs or other specific programs approved for this purpose by the autonomous community, the box provided for this purpose will be marked.