Like the United Kingdom and other countries, owners and agencies are required to register the deposit with an administrative institution within the relevant autonomous community so that it can be protected. This is mentioned in the Spanish law on rents (Ley de Arrendamientos Urbanos or LAU) in Article 36.1. If no one takes over the lease, the contract will be automatically terminated. At the end of the lease, the owner may request that the property be returned to its current state. Under the new legislation, it will now be easier for landlords and tenants to get an agreement on the improvement of a property before the end of the lease. In addition, the owner must ensure that the property is habitable and that it remains for the duration of the lease. The purpose of this article is to outline the most important laws and rental rights when renting a property in Spain, so that you are fully armed before and after signing a new contract. If the property rented by the tenants is made available to the bank, the tenants must declare their lease to the land registry before the sale of the land is concluded. The bank is required to honour the rest of your lease. (unless there is an agreement between the tenant and the original landlord). Agreements generally require the current lender to offer some kind of economic compensation. In accordance with the March 2019 amendments to the Rent Act, which were intended to protect tenants, a landlord cannot sell a property as long as the tenant resides there.
This means that the buyer, whether it has been sold or not, cannot induce you to leave the property after the conclusion of the entire lease term. The idea is to keep it simple and briefly list the most important changes without going into esotericism. All changes will take place from Wednesday, March 6, 2019. Previous leases signed follow the previous regime, unless otherwise agreed. The surety should not be increased for the first five years of the lease (seven years if the lessor is a corporation), but may be increased if a tenancy agreement is extended by 5 years. I gently remind landlords that long-term rental rights, as described in this article, can sometimes (not always) be circumvented legally (not always) by the use of seasonal contracts. You can ask our law firm to design you, provided you meet the requirements. To learn more, here is a brief summary of the most important points, so if you are a landlord yourself, I strongly recommend you study the new rules thoroughly, to make sure you know what you can be responsible for entering into a tenancy agreement, and if the tenant dies, otherwise you could be locked up unknowingly in a decades-long contract. As a tenant, it`s also a good idea to read the rights you have, especially when it comes to rent increases, deposits, termination of contract, etc. Knowledge is power (and for sure)! After the expiry of the lease, the deposit can be sought and repaid, subject to all damages and losses that the lessor must prove. Thus, the tenant is required to assist the lessor as much as possible when work or improvements are required on the property and changes at the end of the lease are not possible. Under the new legislation, rent increases during a lease agreement must not exceed the Consumer Price Index (CPI) or the measure of inflation.
This puts an end to leases that included a mandatory annual rent increase. If the white goods are to be kept in the dwelling as part of the contract, you must determine who is responsible for the maintenance and possible repairs. Such information should be included in the rental agreement. If so, you will be pleased to know that many of the existing rent laws have recently been updated, which offers you additional protection as a tenant in Spain if you rent long term.