How a lot can landlords in Spain require from tenants to pay as a deposit or assure after they lease out their property? Are two months of “fianza” deposit legally allowed as is changing into more and more frequent?
Renting a house in Spain can have its challenges for each landlords and tenants.
Owners need a reliable long-term tenant that can pay on time and never harm their property, whereas renters want to supply ensures that they’re solvent.
The answer to that is within the overwhelming majority of instances the fee of a fianza, a deposit paid to the owner that will cowl the price of any damages brought on by the tenant and paid again if there is no such thing as a want for any repairs on the finish of the tenancy.
Then there’s the aval or garantía adicional, a assure which is normally deposited within the financial institution by the tenant, a sum which is barely accessible to the owner within the occasion of non-payment of lease.
READ MORE: How to get a bank guarantee to rent a property in Spain
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Some landlords will as a substitute choose to ask tenants for his or her nómina, proof of a hard and fast contract with month-to-month earnings.
All this will symbolize a good amount of cash for tenants to cough up, as fianzas or avales are normally equal to a number of months’ lease.
So what does Spanish legislation say in regards to the most quantity that landlords can ask from tenants as a deposit?
In response to Spain’s City Leasing Regulation, landlords can solely request one month’s value of lease as a deposit (fianza) and in reality should as it’s legally required.
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Spain’s Shopper Affairs Ministry additionally clarifies that the utmost quantity that may be required as assure for lease fee (aval) is 2 months of lease.
Landlords may also ask for a most of 1 additional month’s lease fee upfront, normally solely requested from potential tenants to ensure their intention to maneuver into the property.
That signifies that as a most quantity of lease a landlord can require from a tenant at the beginning of their contract is 4 months’ lease: three months of lease (one for fianza, two for aval) and the primary month’s lease.
Though the authorized restrict already represents a sizeable amount of cash for tenants, there are reviews of landlords asking for as much as 5, six or extra months’ lease upfront in Spain, one thing which isn’t authorized and such extortionate clauses in rental contracts might be punished in a courtroom of legislation.
As for requiring a nómina or declaración de la renta (annual tax declaration) from budding tenants, there is no such thing as a point out of this in Spain’s City Leasing Regulation and due to this fact can’t be deemed unlawful.
For a lot of tenants, displaying proof they’ve a secure job means they will negotiate not having to pay an aval as they technically can supply a larger assure that they’re solvent, though this method is irritating for Spain’s self-employed.
Sadly, Spanish banks cost curiosity to the tenants for protecting their aval open, although it’s cash that’s simply sitting in an account and might’t be accessed, so as soon as your landlord is aware of you pay on time it’s advisable to attempt to negotiate the top of this assure.
READ ALSO: Can I pay several months of rent to prove I’m solvent in Spain?
