Officially no, the only properties you are allowed to rent are Touristicly licensed and you should only go through the legal letting agent ( rip off merchants ).
But due to the state of other Tourist Countries, the Canarian Government following their draconian and illegal actions finning owners of properties who did not let, suddenly realised there was money to gain so have turned a blind eye to owners letting.
As to answer your question, some of the apartments are very nice and very handy for the village of LG