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Property – Points To Watch.
In the present slow property market many people are choosing to rent their property out rather than sell. There are some basic steps you should take and basic information you should gather about your tenant to protect yourself and your property.
In Spain a rental contract can be verbal or in writing but like Groucho Marx once said, “a verbal contract is not worth the paper it’s written on” so it is always best to get it in writing.
It is vital that the contract sets out your full name, address, passport number and NIE number as landlord, and the full names, address, passport number, and if they have them, the NIE numbers of the tenant. Remember that if you own the property jointly with anyone else, such as a spouse or partner, that you must both be named as landlord, and the same applies if the tenant is more than one person.
The property must be correctly described with its full address, and catastral number in the rental contract. You will find the catastral number on the bill for your IBI, or local property taxes.
The length of time that the tenancy is to run for must be stated, together with the amount of the initial rent, how and when the rent is to be paid, for example by standing order to your bank account in the first week of each month, and the amount of any deposit paid.
If you are only renting the property out for a relatively short time it is most important that the contract states that the property is not being rented to the tenant as their permanent home or “vivienda habitual”.
Always make an inventory of all the contents, including any fitted electrical appliances. This should be signed by both you and the tenant, and state whether it is furnished or unfurnished making a record of the decorative and physical state of the property. The easiest way to do this is to take a number of photographs and print them out to be signed by both you and the tenant.
Should you later have problems with your tenant you will at least have the basic information you need to take appropriate action.
Link Point Legal and
Business Services: 96 626 0500 Email:
client@linkpointlegal.com Web:
www.linkpointlegal.com
Renting Your
Female Focus
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