On December 14th, the council of ministers approved a package of measures for rental properties.
There is a high demand thats looks for rent is unsatisfied due to the fact that in Spain there are around three million empty houses that are not in the rental market.
Will the reform solve this problem?
Jose Luis Abalos, Minister of Public Works, presented the details of the Royal Decree-Law that will modify the rental market for homes. This is intended to increase the supply of housing, in addition to offering security to the tenant.
Main urgent measures:
- The term of the rental contracts is extended from three to five years and the tacit extension from one to three years for natural persons, in the event that the lessor or lessee does not express his will not to renew. In the case that the leasing party is a legal entity, seven will be mandatory and three will be tacit.
- With respect to the deposit, a maximum of two monthly rental rates are established, except for long-term contracts. This limits the abusive demands that were requested.
- The costs of real estate management and formalization of the contract will be borne by the lessor.
- Improvement works may be carried out in the home without the need to sign a new contract, provided that both parties agree.
- The payment of ITP is eliminated in any circumstance by the tenant
- It applies to new tourist flats that in neighboring communities, if decided by three fifths of the owners, may agree to limit or veto tourist rentals in the building.
- Changes in the evictions of vulnerable households so that they have more protection, this way you can prevent these families from staying in the street without an alternative, coordinating justice with social services.
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