The Idealista real estate portal, a benchmark in the sector, only has ads for 46 rental homes on the entire island of Lanzarote. In addition to the limited supply, not just any ordinary citizen could access these accommodations if we analyze their requirements.
One of the most economical apartments shown on this page is located in Arrecife and already reaches 650 euros per month for a space of 30 square meters. In this case, it is presented as "a mid-season rental" that is aimed at "officials, teachers and health personnel" who are going to move to the island temporarily. The type of work performed by the tenants is a common requirement among the ads published today.
The following ad, located in the Titerroy neighborhood, is also aimed at teachers and asks for a contract duration that does not exceed nine months. On this occasion, the 650 euros per month do include water, electricity and internet.
In addition to the increase in prices, the requirements requested for tenants are added. When the requirement of being a civil servant is eliminated, others appear such as the need to prove a solvency of more than 33%, an employment contract with an uninterrupted work history of more than one year or home insurance along with the signing of the contract.
From 700 euros per month, the apartments advertised in Idealista do not exceed 55 square meters and one bedroom. Sometimes, the location improves, being already in more central areas or near the coast. Or, they are larger spaces but, in most cases, they are only advertised for teachers and other officials.
As the price increases, so do the requirements, from a month's deposit, home insurance to non-payment insurance paid by the tenant, in addition to a solvency analysis. In other cases, the owners are even more demanding and to "approve the potential tenant" they ask for "a complete explanation of the family situation and the people who are going to live together, as well as their relationship, the work life of all adults, the last income tax return and the last two payslips."
In addition, many of these apartments are not subject to the Urban Leasing Law because they are apartments with less than nine months of rent. With the new Housing Law of 2023, tenants should not have to pay the agency fee when renting long-term homes. However, most of the offers published on this website advertise temporary rentals, less than the 11 months required by law.
