Whether you are the owner of a property in Spain and you’re letting it out or you are a tenant, you should make sure that you are protected with a rental contract.
Here is a little guide to help you understand what a Rental Contract is and why it protects you.
Recently many of the existing tenancy laws have been changed/updated.
The rental contract for a property must be treated with the utmost care so that all parties agree and are protected. Just as a landlord wants all the guarantees to be at peace with the person they are renting the property to, the tenant needs to be sure of what rights they have. Also, very important is for it to be very clear on who pays for what.
The contract should be both clear and simple but most importantly, complete. It should state both the rights and obligations of both parties, including the duration and its extensions, with also the details of deposit/s, who is responsible for costs, repairs and so forth.
Information & Clauses
A rental contract should have the minimum of the following information and clauses:
· Identification of both parties
· Identification of the property
· Conditions and guarantees: deadlines for paying the rent and the method of payment, the deposits that have been made and what happens in case of non- payment.
·Terms of the lease: How long the duration and extensions of the lease is, the power of withdrawal from the contract and compensation in this case etc.
· Expenses: Here is where all costs and expenses should be stated and who is to pay each one. For example, all utility bills, rubbish collection tax, IBI property tax and home insurance costs. Here it should specify who is going to be paying what.
· Upkeep and maintenance: The contract should include who is responsible for the upkeep and maintenance of the property. What is to be the responsibility of the landlord, and those that correspond to the tenant (maintenance and damage caused by the use of the property for example).
It is our job to make sure that you are protected when you find the right rental property for you or if you are a landlord wishing to rent your property out and to make sure that the rental contract covers all aspects, for you, your family and your investment.
For any further questions about renting a property or any other matter, please contact us at firstname.lastname@example.org