Property for rent in Spain
The bad thing about renting a flat is that you pay your rent every month but in the end it just goes into someone else’s pocket and you’re left with nothing to call your own, something many people see as a terrible waste of money. It's much better to buy a house, of course, but it's so expensive...
The rise in the cost of renting in Spain is worrying not only politicians, but also the private sector. Faced with a lack of supply in some Spanish cities and an increase in demand, rental prices have risen faster than wages.
For many this topic may seem rather pointless or futile; but the fact of the matter is that if you fail to cancel a lease agreement properly in Spain, it may have serious legal (and financial) repercussions for the tenant.
As you are probably aware by now, one of the best, if not the best, businesses in Spain as of late is to rent out property, specifically as a holiday home (short-term). Property prices in Spain have picked up since 2018 and we are witnessing a 5% capital appreciation across the board.
In point five of our previous blog post (Renting in Spain? Five clauses you should be mindful of), we discussed how some devious landlords in Spain, after a lease is over, like to pocket a tenant’s one-month deposit and do not hand it back, giving all sorts of lame excuses.
The centre-left PSOE party has won the Spanish general election with 123 seats. If they combine with the far-left Unidas Podemos (42), they will have 165 seats in parliament but won’t reach an absolute majority (176), so they will need the support of other parties to govern.
Spain is such a great place to live and work in. You are young, carefree, and have yielded to the temptation to move to this beautiful country for a while to test the waters.
As the deadline for the 2018 tax returns draws nearer, we remind you of the importance of doing your income tax returns in Spain and how to declare the IRPF if you rent your house to tourists and long-term tenants.
Spain has recently amended its rental laws in March 2019, in most cases to the detriment of landlords, creating serious legal obligations that landlords should be acutely aware of. One of the issues that is important to understand is what happens to a long-term lease when it is over.
These changes affect long-term rentals mostly.
If the landlord is a natural person: 5 years mandatory renewal period on long-term rentals (plus 3 years silent renewal). Before it was three years plus one.
If the landlord is a legal person:
The Spanish Council of Ministers has approved new legislation with a royal decree law reforming the rental market.
The European Commission has opened an infringement procedure against Spain on the grounds that it discriminates against expats who rent their homes.