Are you struggling to find a long term rental apartment that suits your needs without breaking the bank and are unsure of the rental laws in Spain? The new Housing Law recently agreed upon by the Spanish Government, ERC, and Bildu may change the game for you. One of the most significant changes is that real estate agencies can no longer charge fees to tenants who rent a home through their business. The economic compensation will now be assumed by the owners of the apartment, who are the ones who established the agreement and conditions with the agency to put the house on the rental market.
Goodbye to deposits?
Moreover, the new law may also eliminate the need for multiple deposits and advance payments, which often proves to be a budget constraint for tenants. This means that tenants will no longer have to pay a month as remuneration for the real estate agency to close the rental contract for the home. Instead, the owner of the apartment will have to bear the expenses generated by the real estate service.
The new law aims to end abusive real estate expenses and fees that prevent many people, especially young people, from accessing a home due to the initial outlay that it entails. It prohibits increasing rental income through new expenses that would force tenants to pay community fees, garbage fees, or any other expense not attributable to the tenant that were not previously agreed upon.
In summary, the new rental laws in Spain may be a relief for tenants who have been struggling to find affordable apartments that meet their needs. With the elimination of real estate agency fees and also the possibility of getting rid of deposits, renting a home may become more accessible for many people.
N.B. Verdin Property always try to keep up to date with the newest laws and regulations as they come into effect. The information in this article is correct at the time of publishing and will be kept as accurate as possible. We bear no liability for changes in regulations that may not be published in this or other articles and we encourage anyone looking for rental properties to seek professional advice should they have any concerns.