Going through a real estate agency is the safest way to rent a property, whether you are a landlord or tenant. An agency not only helps with the process of finding the tenant or the right property, but also serves as an intermediary in managing the rental contract.
A rental contract is an agreement between a landlord and tenant, whereby the former transfers the use and enjoyment of a property to the latter, in exchange for money (rent) for a set period of time.
It is a very important document, as it sets out the rights and duties of both parties, and the prior agreements are formalized in order to avoid potential problems in the future. But before signing a rental contract, it is useful to check certain things:
Check the state of the property.
It is important to check the state of the property, even taking photographs and making an inventory if the rental is for a furnished property.
Duration of the contract
Although the owner and the tenant can agree on a determined duration, if it is less than 3 years and the tenant so desires, the length can be extended until the minimum of 3 years is completed.
The deposit
The contract can state the payment of a deposit equivalent to one month’s rent, which will be reimbursed to the tenant if s/he returns the property in the same condition it was in when the rental period started.
The rent
Agreed on by both parties, the best is to pay it by direct debit into a bank account that serves as a guarantee to accredit the payment. Rent needs to be paid during the first 7 days of the month. If it is agreed in the contract, the rent can be updated every year after the expiration of the contract.
Cancellation of the contract
If the tenant has to leave the property before the end of the first year, s/he will need to do so after a minimum of 6 months and after giving 30 days’ notice. If it is the owner who needs the apartment, for her/himself, for her/his spouse or immediate family, s/he has to communicate this to the tenant with a minimum of 2 months’ advance notice.
At Lasose Properties & Investments we specialize in the rental market in Barcelona. Our goal is to ensure a safe rental with peace of mind for both owners and tenants.
