09 Jun 2023

Everything you need to know about the New Housing Law 2023

Published in Real estate

Hiring a real estate agency to manage your property offers numerous advantages and benefits.

The Law for the Right to Housing seeks to guarantee decent housing for all citizens through measures such as the regulation of rental prices and the promotion of public housing.

This law, part of the Recovery, Transformation and Resilience Plan, addresses housing-related problems and offers support to groups with difficulties in accessing housing. It also establishes tools to control prices and increase the supply of social rental housing.

Law 12/2023, of May 24, for the Right to Housing, was approved in different stages. First, the Council of Ministers gave its approval on February 1, 2022. Subsequently, the Congress approved it on April 27, 2023 and finally the Senate ratified it on May 17. On May 24, the law was published in the BOE under number 12/2023.

Boosting public housing, limits on rental prices, protection against evictions and a new definition of large landlord and vacant housing are some of the measures contemplated in the law. These measures aim to regulate public housing parks, increase the percentage of rental housing within the reserve land for subsidized housing and establish limits to the price of rent, protect tenants in areas declared as stressed and define criteria to consider someone as a “large landlord” or a dwelling as “vacant housing”.

A new measure has been announced that has a significant impact on the real estate sector. This rule establishes that brokerage costs on leases will be the responsibility of landlords rather than tenants. While some real estate professionals may see this as a threat to their business, we see it as an opportunity to highlight the value of the services we provide.

Why hire an agency to manage the rental of your property?

By taking on the brokerage costs, we can demonstrate to landlords that our fees will be used to ensure that their rental transactions run safely and smoothly.

Hiring a real estate agency to manage your property offers numerous advantages and benefits:

  1. Experience and market knowledge: Advice from a team of professionals who are aware of current legal regulations, market trends and rental prices. Expert knowledge helps the lessor make informed decisions.
  2. Effective promotion and advertising: Designing strategies to give visibility to your property and reach a wider audience. Using networking, real estate portals and various marketing tools.
  3. Saving time and effort: Management of all tasks related to the rental process, creation of ads, dissemination in networks and portals, and answering queries from potential tenants on behalf of the landlord.
  4. Greater visibility and access to potential tenants: Real estate agencies offer greater visibility to your property and give you access to a larger number of potential tenants. This increases the chances of finding qualified tenants and reduces vacancy periods, thus ensuring a steady stream of rental income.
  5. Rigorous tenant screening: Real estate agencies conduct thorough tenant screening, which includes background checks, creditworthiness assessment, and referencing other landlords. This minimizes the risk of having problematic or non-compliant tenants and helps maintain a harmonious relationship during the rental period.
  6. Legal and tax advice: Expert advice on legal and tax issues related to property rental. This avoids costly mistakes and the landlord is assured of complying with legal and tax obligations.

If you need more information or want to know the benefits we offer in Lasose Properties & Investments, do not hesitate to contact us. Our team of professionals will be happy to help you and give you personalized advice to manage your property in an efficient and profitable way.

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