Before renting a property, it is crucial to verify whether you qualify as a large property owner. This status, defined in the Housing Law 12/2023, entails specific commitments and significant measures. measures.
With the implementation of this legislation, it is essential to be aware of the rights and duties. So it is important to know what they are, what your considerations are and the risks you must assume.
Being a large property owner means holding a certain number of urban residential properties. This legal concept was created to regulate and promote access to housing for lower-income people.
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The Housing Law 12/2023 refers to a large property owner as a natural person or company owning 10 or more urban residential properties. This concept also applies to residential constructions exceeding 1,500 m2.
However, an Autonomous Community may adjust this concept, provided the properties are located in a territory declared as a high-pressure area. This is the case in several parts of Catalonia, including Barcelona and its metropolitan area, where owners with 5 or more properties are considered large holders.
The law also distinguishes between a large property owner and a small landlord, as described below:
Both parties must stay informed of any change or update that may affect their long-term management.
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Spanish legislation has formalized the term "large property owner" to identify those who have a significant impact on the housing market.
The Housing Law therefore considers as a large property owner those holders who possess 10 or more residential units. It also extends this definition to owners of 5 or more properties located within the same designated high-pressure area.
Additionally, ownership of buildings of more than 1,500 m² intended for residential use is also classified here.
Of course, the law is explicit about the types of properties that determine this status. The following are included in this category:
It should be clarified that the law excludes commercial premises, storage rooms, garages, offices and other non-residential assets from this definition.
Under the law, this status entails certain additional commitments. Likewise, large owners must comply with a set of regulatory measures intended to balance operations and protect tenants.
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Being in this position undoubtedly implies stricter obligations, so it is wise to act proactively and anticipate possible legislative changes.
Rents in Spain are governed by Law 12/2023 on Housing. However, the government can also exercise its powers in designated high-pressure areas — for example, Barcelona has been declared fully “tense” (a high-pressure housing market).
Among the most relevant considerations in these areas are the following:
Although these provisions are intended to protect both parties, they also represent a challenge for large owners, who must adapt to a stricter regulatory environment.
The presence of large property owners in Spain has been the main reason for the implementation of specific legislation. To regulate real estate operations and ensure general welfare, the following laws are applied:
It is worth noting that this topic remains on the legislative agenda. Therefore, as the market evolves, the legislation is expected to continue adapting to protect the rights of all parties involved.
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Being a major property owner has a significant impact on the real estate market. Indeed, this status plays a key role in managing rentals — particularly when signing or extending a lease, increasing rent, or in eviction proceedings.
They have a duty to offer alternative rental options to vulnerable tenants. In this way, they must cooperate fully with public authorities to guarantee access to housing in cases of housing emergency.
The status of amajor property owner carries certain benefits; below are some of them:
Greater negotiating power with other parties involved due to their market position.
Holding multiple investments reduces risk, so it is common to own several properties across different developments.
Greater access to financial resources, which guarantees more opportunities for higher returns compared with small landlords.
They obtain up-to-date information for informed decision-making and can implement investments more quickly.
The investment strategy is more flexible, since large holders have greater capacity to invest across different financial fields.
Given that the Autonomous Community does not currently apply specific restrictions, the status of a large property owner carries various risks and challenges, including:
The City Council may adopt different policies (more flexible or stricter) regarding this status. There is also the possibility of temporary agreements and the development of feasible housing in collaboration with local authorities.
Although large property owners operate legally, they can become targets of protests, media campaigns or social movements if they fail to maintain good relations with tenants.
In this regard, it is important to be transparent in every respect, offer fair prices and services, uphold ethical standards and accept social responsibility.
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In Spain, the large property owner is a key actor due to their prominent role in rental management. However, with rights come responsibilities that help ensure accessibility and residential stability.
Despite its influence on supply and demand, the regulation imposes limitations such as price caps, increased costs, greater bureaucracy and legal uncertainty in the face of long-term political changes.
Being aware of these considerations allows large property owners to operate legally. Likewise, it contributes to developing a fair and sustainable relationship between the parties involved.
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