How the rent to rent at Bliss Homes, step by step

What exactly is R2R

The rent to rent - literally, "rent to rent" - is a model contract in which a dedicated housing management company rents a house to its owner by means of a classic rental contract and exploits it as a tourist accommodation by surrendering to short-stay guests. The owner charged a monthly fixed income throughout the contract and the manager assumed all the operational risks: gaps, supplies, maintenance, platformer commissions, and individual and regulatory mispayments.

There are two analogies that usually help them understand. The first, hotel boutique:: When a hotel group rents an entire building to an owner to operate as a hotel, that owner doesn't sign contracts with his guests or pay overnight. He gets a fixed income from his group and his group takes up his operation. The R2R applies that same logic to a single housing. The second analogy is that of commercial place for rent:: When an owner rents a place to a franchise, that franchise exploits his business as he wants - without asking his owner's permission for every commercial decision - always within the terms of his contract. The owner simply charges his rent and gets lost from day to day.

Where R2R differs from any other model, it's who's the tenant. In a Airbnb run by the owner itself, the tenant is the guest and the owner is the tourist operator. In an integrated or online management, the owner remains a tenant versus the guest and the manager acts as a agent. At R2R, the tenant is the managing company - Bliss Home, S.L. in our case - and the owner has no contractual relation with the guests at any time. That changes the legal nature of the whole relationship.

Legal framework

The R2R sits on three legal pillars that live with Spanish law. To know them is important because it allows you to read the contract knowing where to look and understand any clause with criterion.

1 Pillar: The Civil Code

The Article 1.550 of Civil Code It expressly recognizes the figure of the subraying. The text's text is direct: "If the lease contract does not expressly prohibit, the lessee may, in whole or in part, sublet the lease, without prejudice to his liability for performing his contract with the tenant." He subtracting, therefore, is no exotic figure. It is a possibility recognised from the Civil Code of 1889 and applied daily at commercial level. What defines R2R isn't that it's a subilling - that's any rental of rooms for stays inside a rental housing - but the tourist use of subilling. That nuance's regulated by the LAU.

Official text of the article: Civil Code, art. 1.550 (BOE).

Pilar 2: El consentimiento expreso del art. 8 LAU

The Ley 29/1994 de Arrendamientos Urbanosand 8and elevates the sign to the Civil Code as we speak about housing: the uploading of housing requires written and expressed consent The tenant. For the tourist R2R, where the main lease is signed as a different use to housing (not as a regular housing), the applicable rule is modulated but the industry's praxis have established a more high standards than the law: the R2R contract always includes an expressed and highlighted clause of authorization by uploading with tourist use. That clause was what made the model as a whole legally sound against challenges.

Official text: Urban Leases Act (BOE).

Important: R2R contract is typically signed as rental for non-housing use (art. 3 LAU), as usual rental. Why? Because the tenant - Bliss Home, S.L. - will not use the house as his home but will exploit it commercially as a tourist accommodation. That rating has important practical consequences: the obligatory extension of 5 years of art does not apply. 9 LAU, the parties can freely agree on the duration and the cause of resolution, and taxation follows the real estate capital regime without reducing the IRPF 60%.

3 Pillar: The autonomous regulations of tourist housing

Once the contract between owner and Bliss has been signed, the tourist operation falls under the autonomous regulations. The 75 / 2013 Decree of 27 of December of housing for tourist use. The Community of Madrid, outside the capital, governs 79 / 2014 Decree of July 10, modificado por el Decreto 27/2026, de 25 de marzo (BOCM núm. 80, de 6 de abril de 2026). Ambos articulan el régimen de declaración responsable, los requisitos mínimos de habitabilidad y la inscripción en el registro autonómico de turismo. La relación con la administración la asume Bliss como explotador turístico: declaración responsable a su nombre, alta en el registro turístico autonómico, declaración SES.Hospedajes, modelo 179 si aplica. El propietario no figura en ningún trámite turístico salvo como titular registral de la vivienda.

What a well-made R2R contract contains

• clear identification of the tenant (owner) and tenant (Bliss Home, S.L.) with NIF, address and registration data.
• Description of housing with cadastral reference.
• Extent rating as lease for use other than housing (art. 3 Lau).
• Fixed monthly income, date of payment, means of payment and annual review with IPC.
• Contract duration (typically 1 year) and extension regime.
• Cláusula expresa de autorización al subarriendo con uso turístico, citando art. 1.550 CC y art. 8 LAU.
• Maintenance and maintenance obligations by Bliss.
• Mandatory liability (at least two monthly) and additional guarantees.
• Unpaid rental and damage insurance coverage.
• Photographic inventory at first with evidentiary value at end of contract.
• Settlement clause for sale of housing (notice 60-90) and for accredited family necessity.
• Notification and submission to jurisdiction.

That list was indicative and did not constitute legal advice. Any contract should be reviewed on a case-by-case basis with its own advice.

Differences with integral management and 1: 1

Bliss Homes operates three different models depending on the housing and the owner. That table summarizes the practical differences so that you understand where R2R fits into our porfolio and why sometimes we will recommend something else.

In practice, as a housing goes into valuation with Bliss, we do a first decision for regulatory viability and a second economic analysis. If housing is in Madrid with valid VT license and very high tourist demand, the most profitable model to 5 years for the owner usually integrated management. If you are in rural areas with an enabling policy framework and sufficient tourist demand but the owner lives far and wants to be misunderstood, the best model R2R. If the owner's already been put up and only wants a timely audit of announcement and pricing, the option is 1: 1. That's why the first visit's important: it's useful for us to understand what's best for us.

Model economy for the owner

Let's get to the numeric detail. To see how an R2R income is built, we have a breakdown of a type operation, based on actual aggregated data from our porfolio (and not from a concrete housing). The example is a rural house of 3 rooms in the Tietar Valley.

Estimated tourist income

• ADR (half-night price): 110 €
• Annual employment: 62%
• Closed nights / year: 365 × 0,62 = 226 nights
• Annual gross income: 226 × 110 = 24.860 €
• Annual monthly equivalent income: 2.072 €

Operating costs structure (monthly)

What matters to you: the income agreed in this example, 900 € / monthIt's intended for Bliss to have sufficient space to absorb low months and still operate with reasonable gain. The usual ratio between R2R and market residential rental in the area usually lies between 80% and 100%: you get equal or something more with a traditional tenant but with no risk of default and with no residential wear.

Important: these numbers are indicative. Each housing has its own equation. A house with a large pool and plot in an area with a strong summer creates a very different pattern from an apartment with a bedroom in a tourist village throughout the year. That's why we don't propose rent without a technical visit.

Three owner profiles that usually fit

Without entering into concrete cases: these are the three archetypes of owner where R2R works best. If you look reflected, it's probably a conversation that she deserves to have.

1 profile - The second inherited residence

Owner who has been given an inheritance housing in a tourist area (town of saw, coast, town with stable demand) that barely uses. The housing works as pain: pays IBI, community and supplies, requires maintenance, and the owner doesn't want to sell them for sentimental reasons or for revaluation. The R2R's monthly fixed income converts pain into cash flow without touching Airbnb or guests.

2 profile - Housing with unlicensed tourist potential

Owner with a housing in good area but with no VT license, have been frustrated trying to get it on his own (paperwork, deadlines, dusk or m ²) or that directly doesn't know where to start. In the R2R model, Bliss takes care of processing his license at no cost to his or her owner, while the contract can be initiated as a temporary rental for justifiable cause (art. 3 LAU). The owner starts charging from the first month.

3 profile - The owner who doesn't want to take an employment risk

Owner who has valued integral management but does not accept low season risk. He wants predictable income, with no monthly variability, and wants to give up some of his tourist upside for stability. It's usually a conservative financial profile: retirement, retirement, autonomous with variable income that wants to complete with a fixed, mortgage owner whose share is covered with R2R income.

These profiles are illustrative. The concrete viability depends on the area, the typology of the housing and the conversation with each owner.

When R2R's bad idea

R2R isn't a universal solution. There are property profiles and housing types where the model doesn't suit, and we prefer to tell you before the visit. If you are reflected at some of the following points, let's talk about it, but be aware that we will probably reward you something else.

• If you want to maximize your entrance to 5 years old and you can assume low months. En zonas con demanda muy alta (Madrid centro con licencia, costas saturadas con temporada larga), la gestión integral suele rendir entre un 10% y un 30% más que el R2R a largo plazo, simplemente porque el propietario captura el upside de los meses fuertes. Si tu tolerancia al riesgo es alta y no necesitas estabilidad mensual, la gestión integral rinde mejor.
• If your housing area with VT leave moratorium. We do not sign R2R in municipalities with an active suspension of new statements responsible (Madrid capital town centre, part of ciutat Vella in Barcelona, Palma centre). In these cases, if the license is difficult or impossible to obtain, we cannot guarantee the tourism model. The alternative that does fit there is temporary residential rental under art. 3 LAU, which does not require VT license.
• If your housing has structural problems or unclear ownership. Important Wetlands, Unregular Electrical Facilities, Unset Duties, Doubt Divorces, Limited Mortages. We did not sign up for them until the situation was resolved, because the contract had to be run during 12-24 months without surprises.
• If you need to use housing with personal frequency. The R2R immobilizes housing for tourist use throughout the duration of the contract. It's not compatible with family using it free weekends or with personal blockages of several weeks a year. If you want to preserve meaningful own use, the model doesn't suit and best integrated management with a shared schedule.
• If the tourist ADR ratio / residential income is unfavourable. The R2R requires that the average tourist ADR Multiples at least 1,8 monthly residential rental / 30 to get the number out to both sides. In areas with high residential income and only moderate demand for tourism, this ratio is broken. In these cases, classical residential rental usually sets best for the owner.
• If housing is in community with restrictions on tourist use. Algunas comunidades han aprobado en junta acuerdos limitativos del art. 17.12 LPH. Antes de firmar R2R revisamos los estatutos de la comunidad y los acuerdos vigentes; si hay limitación expresa al alquiler turístico, no firmamos.

We haven't been writing this Section modesty. We write it because signing an R2R that's broken after that's bad for everyone. It's better to dedicated the technical visit to confirm real lace than sign them and have problems at 8 months.

Documentation to be signed

When we get to the time of formalisation, the documents signed are as follows. We listed them so that you know what to expect and if you want, check them with your lawyer or advice before signing.

• Loan contract for non-housing use. Main document. It includes identification of parts, housing, rent, duration, extension, an explicit clause of uploading tourism and a resolution regime.
• Inventory Annex. document with dated photographs and detailed description of the status and contents of the housing at the time of delivery. That's the reference to put her back in the same state at the end of the contract.
• Retirement liability. Accreditation of the deposit of the required bail at the autonomous body (House of Urban Property at CyL, AVS at Madrid).
• Insurance Annex. Summary of rental default and damage policies contracted by Bliss for your housing.
• Authorisation to process VT license. If the house does not have a tourist licence, this document allows Bliss to submit his or her statement with his or her name and name.
• SEPA Protocol or an equivalent for the housing of monthly income.

All documents can be signed presentially or electronically with a digital IID. It's usual to check them with a first video call and sign them with a second visit.

Hector Clarke

Fundador de Bliss Homes. Operamos viviendas turísticas en 8 comunidades autónomas —pisos, casas rurales y un edificio completo en Toledo—, seis de ellos alquilados con nuestro propio dinero. Meet the team →

Related Lessons

• Full rental guide guaranteed for owners (HUB Cluster Z)
• How to get a tourist housing license out of Castile and León
• How to get a tourist housing license out of the Community of Madrid