What is Rental Agreement?
Renting out a property in Spain can be an excellent option to get a capital gain and a way to ensure your property is maintained while you are not around to do so yourself. A monthly rental income can often be profitable enough to cover the monthly bills and taxes on your property and may also meet or even exceed the monthly mortgage payments. This option is an appealing one for many reason however detailed contracts must be set out between the renter and the landlord in order to protect both parties and the property being rented. Allow us, at Lusa Legal, to provide you with all the pertinent details on the Rental Agreement Spain process to ensure that you and your property are fully protected.
What ate the contents of the Rental Agreement?
The lease agreement in Barcelona, for example, should contain the following:
- Clear documentation of who the landlord of the property is.
- Clear documentation of who the tenant will be.
- The property address and property details.
- The monthly rental rate.
- The duration that the property will be rented for.
- A list of all fixtures and furniture contained in the rental unit.
- The deposit amount (usually the amount of one month’s rent).
Rental Duration in Spain
After being rented for a period of one year, Spanish law dictates that unless the contract is cancelled by the renter or the landlord requires the home to be used as their personal residence, then the rental contract Barcelona will be renewed for a period of up to five years.
After this period is over, the agreement can be extended for a maximum of another three year period.
Termination of the Rental Agreement in Spain
There are numerous reasons that the lease agreement in Spain can be terminated such as:
- The renter refusing to pay rent.
- The renter subletting the property to another tenant without prior approval.
- Damage to the property caused by the tenant.
- Changes or renovations to the property without prior approval.
- Use of the property for reasons other than a home.
- Dangerous behavior of the tenant.
- The tenant giving 30 days’ notice of their intent to leave prior to the renewal date.
- The landlord not properly maintaining the building.
- Constant disruption or harassment of the tenant by the landlord.
If you are considering renting out a property, contact Lusa Legal to help you draft your lease agreement Spain. By ensuring that your tenancy agreement in Barcelona contains all the required information, you will be protected from any risks in the future and it will make your renting experience a much more enjoyable and profitable one. Contact us today for further information: +34 607 29 44 28.