The rental market is booming. The demand is increasing, not so the offer, especially in some areas. In Madrid, for example, rental prices are at the highs recorded in the ‘boom’. This can cause some precipitation to avoid losing the house. But, before signing anything, it is necessary to check some points. In addition, the new decree introduces some changes.
Check how is the area where the house is
It seems obvious, but analyzing some aspects will avoid later dislikes: is it noisy? What is the neighborhood like? Also, see if everything works properly in the home: appliances, heating … Who rents it is the owner? If you’re not sure, ask for a simple note. Start with everything in order gives certain guarantees.
When you are convinced to take the step, the rental conditions will have to be written in a contract and in the most detailed way possible. The words are carried in wind. And in that contract it should be clear:
What does the rental price include?
It is necessary to specify monthly payment, day and method of payment and the mechanism of the annual review of the rent. Also, what is the bond or the guarantee. With the new Rent Decree these issues have been very defined. The deposit is fixed in one month and two additional monthly payments as limit (in total three). With the previous regulations, the deposit or guarantee did not have a certain amount.
Who pays the community, the IBI or the garbage tax, if any? As this is a decision between the parties, we must make sure that it is clear in the contract.
Duration of the rental
The end of the rental contract will be established between the owner and the tenant, always respecting the minimum period established by law, where changes have taken place. The duration of the contracts is extended from three to five years. This period increases until seven years, if the property of the house is a company or legal entity. And once that initial period has passed, the contracts are tacitly extended for one year between individuals. Three if it is a company.
Are they discharged? Is ownership changed? or are they still in the name of the owner and does the tenant provide an account number for domicile? A decision of both parties.
Who takes care of breakdowns or arrangements in the house
This aspect tends to be a source of controversy between tenants and owners. Who is responsible for repairs? What the contract says will be key. And, therefore, it is worth paying special attention. In general the tenant must take care of all the small repairs of damages caused by the use of the house (light bulbs, taps, blinds, glass …). And the owner, of more structural elements such as pipes or the boiler. However, these limits are not always clear.
When can I leave the apartment and what happens if the owner wants it?
Here is a very important point with the current regulations. If the owner wants to recover the house (for his or a family member’s use), he must leave it in writing in the contract and give a four-month notice. If the tenant leaves the house, he must inform the landlord two months in advance.
Use of housing
In the contract, it will be clearly indicated what use the tenant is allowed. Can it be a dwelling and at the same time a professional office? It will also be checked if subletting is allowed, the same would apply if the tenant wishes to have pets.
In the event that it is a furnished apartment, it is important that the contract has an annex that specifies all the appliances and other elements that are in the home, also indicating their status, to avoid subsequent claims.