If you have an empty flat in Las Palmas de Gran Canaria, you’re losing money every day. It’s not an exaggeration — it’s a concrete sum you can calculate. And it’s probably larger than you think.
Las Palmas is the city with the highest rental demand in the Canary Islands. Flats in reasonable condition are rented in days. And yet, thousands of homes sit empty in the city. The reasons are understandable: fear of non-payment, reluctance to manage, distrust of tenants, flats needing refurbishment. But the costs of keeping a flat empty are real and accumulate month after month.
The real cost of keeping your flat empty in Las Palmas
Let’s run the numbers with a typical two-bedroom flat in a mid-range area of Las Palmas (Mesa y López, Alcaravaneras or similar):
Fixed costs you’re paying with the flat empty:
- Owners’ association fees: €60–120/month
- Property tax (IBI): €40–80/month (prorated)
- Home insurance: €20–35/month
- Minimum utilities (water, waste collection): €15–25/month
- Preventive maintenance: €15–30/month
Total costs with the flat empty: €150–290/month
Income you’re missing (opportunity cost):
- Market rent for a 2-bed flat in that area: €650–950/month
Total loss: €800–1,240 every month.
Per year, that’s between €9,600 and €14,880 you’re leaving on the table. In two years, you could have lost the equivalent of a complete flat refurbishment.
We’ve analysed this calculation in depth in our article on the real cost of keeping your flat empty in the Canary Islands.
Why Las Palmas landlords leave flats empty
”I don’t want problems with tenants”
The most common and most understandable fear. A non-paying tenant can become a legal nightmare lasting months. The solution isn’t to not rent — it’s to choose the management model that eliminates that risk. With the rent-to-rent model, your tenant is a company, not a person. And the company pays because it’s their business to do so.
”The flat needs refurbishment and I don’t want to spend”
A flat needing paint, new furniture and some minor repairs can seem like a big investment. But the sums are clear: if the refurbishment costs €5,000 and the flat generates €700 per month, you recoup the investment in 7 months. See our guide on how to prepare your flat for renting.
With our model, you don’t even need to make that investment: we refurbish, furnish and prepare the flat at our expense.
”I don’t have time to manage a rental”
Managing a rental in Las Palmas — listing ads, showing the flat, screening candidates, drafting contracts, collecting rent, handling incidents — consumes 5 to 15 hours per month.
”I live outside Las Palmas”
Many landlords live on another island, on the mainland or abroad. Managing a rental remotely is technically possible but operationally complicated. Any incident requires having someone trustworthy on the ground.
The solution: guaranteed rent with zero management
Each of these barriers disappears with the right model. At Looping Rooms we rent your flat, pay you a fixed monthly rent and take care of everything: refurbishment, furnishing, tenants, maintenance, contracts and collections.
You don’t need to invest in refurbishment. You don’t need to find tenants. You don’t need to manage anything. And if you live outside Las Palmas, it makes absolutely no difference — we’re here.
See how our model works step by step or check which areas of Gran Canaria we operate in.
If you have an empty flat in Las Palmas and want to know how much you could collect each month, request a free valuation. In under 48 hours we’ll give you a concrete figure.
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