This measure allows taxpayers to deduct a portion of the expenses incurred in preparing properties for rent as habitual residences. Deductible concepts include repairs, maintenance work, insurance premiums against damages or non-payment, and costs associated with obtaining the energy efficiency certificate, which is mandatory for renting.

Tax regulations state that 10% of the expenses incurred during the year to prepare a property for rent can be deducted. However, there is a maximum limit of 150 euros per property, applicable to both individual and joint tax returns. To reach this maximum deduction, the owner must have invested at least 1,500 euros in the aforementioned concepts.

It is crucial that the property is exclusively used for habitual residence rentals, thus excluding tourist, holiday, or seasonal rentals, as stipulated by the Urban Leases Law. Furthermore, the Tax Agency requires all expenses to be properly justified with complete and valid invoices, which must be kept for four years for potential inspections.

In the case of works or repairs, it is mandatory to identify the professional or company that carried out the work, including their tax identification number, when entering the data in the Income Tax draft. If the property belongs to more than one person, the deduction is distributed proportionally according to the ownership percentage. It is important to note that this deduction is not compatible with another specific to the Canary Islands related to rental non-payment insurance.

Property owners are advised to review box 0942 of their Income Tax draft, as these autonomous deductions are not always applied automatically and can represent significant savings.