Depending on your circumstances, renting can offer a number of potential advantages, compared to purchasing.
For starters a monthly rent is often cheaper than a comparable mortgage payment, maintenance costs are generally the responsibility of the landlord, and, if you do decide to move, it’s easier to do so quickly.
Looking for a property to rent in Spain can be a frustrating experience. While landlords who offer short-term and holiday rents are required to have a licence, there is no law regarding minimum standards required for long-term rental properties. As a result, some homes for rent on the open market may be less than habitable.
At Terra Meridiana, we only offer rental properties that meet our standards of somewhere we would live and only work with reliable, reputable landlords who respect their obligations. We personally visit all our properties to ensure they, and their owners, are fit to rent and act on your behalf to remedy any issues that may arise.
What does rent include?
In general terms, short- and long-term rentals in Spain include all taxes and costs pertaining directly to the property – such as municipal property taxes and refuse collection – but do not include utility bills or other costs that depend on the tenant’s use.
Repair costs are normally paid by the landlord, but you should check the contract carefully to ensure this is the case. Any improvements the tenant wishes to make need prior approval the landlord and are normally be paid by the tenant.
If the property is part of a community, community costs, including cleaning of shared areas, may be included, but this is not always the case. As these can be high, especially for communities that have a swimming pool, gardens, or other amenities, you should always check if these are included or negotiate rent accordingly.
Since June 2013, all long-term rental properties in Spain are required to have an energy efficiency certificate, stating, on a scale rated A to G, how much carbon dioxide it emits a year, based on heating, cooling, and other energy use. This can be useful to work out how much utility bills will cost.
Deposit (fianza)
Spanish law requires tenants to pay landlords a minimum deposit equivalent to one calendar month’s rent for unfurnished properties and two months for furnished properties.
Many landlords, however, will ask for up to six months’ rent in advance or even demand a bank guarantee (aval bancario) naming them as the beneficiary, in case of non-payment.