F.A.Q.
Frequently Asked Questions Spain
When should I come to Spain to look for my property?
Families looking to rent in time for the start of the school year in early September should be looking to come in July or early August to make the most of the movement of departing families. Don’t leave it too late or the family homes will be snapped up.
How does the home-search process work?
Homesearch packages vary in their length but we always carry out the research for your tour only a couple of days in advance and base our research on the information provide, your budget and our expert advice. The Madrid property Market moves fairly quickly and our Consultants in the main part will deal through real estate agencies. Unlike in other countries such as the UK there is no multi-listing system in Spain which makes things a little more time consuming on the search front. Estate Agencies charge the tenant fees of 1 months rental or 10% of the annual rent. (this is subject to VAT currently at 21% in Spain). You will be accompanied by a professional home search Consultant who you will have already been introduced to over the email prior to your visit and who will carry out the research for you – they are a wealth of information. Please make sure that we have your requirements 100% clear before you come – especially in Madrid it is very difficult to amend an itinerary part way through a tour.
How many houses can I expect to see?
The amount of houses that you will see on your two day tour with us will depend greatly on the geographical area that you are considering as well as your requirements – you may see 5 to 15 properties a day. Smaller geographical areas and stringent requirements will result in fewer properties being suitable for any given relocatee.
***TIP: make some notes as you go along as after two days seeing houses it may be difficult to remember your favourites.
How negotiable are rentals ?
Again, this depends. Generally in the current climate for good quality properties in sought after areas, the answer is not very…You should come with your budget that you are prepared to spend, rather than think that you will be able to achieve substantial discounts.
Can I ask for things to be done at the property before I move in?:
Within reason… however bear in mind that in line with the explanation above, a landlord may be reluctant to make any major improvements to a house that, in his mind, he feels he could rent “as it is’’. It may be that the Landlord has already advised the agent that he will be undertaking some remedial work, painting of rooms etc, but please don’t assume this to be the case – In Spain, a landlord would typically paint the house as a matter of course prior to a new tenant moving in. At the offer stage on a deal you can request changes/improvements/painting etc but anything that you ask for in the improvements line – will be reflected in the price that the Landlord will want for the house – the trick is to be reasonable and mindful that if you are asking too much, the Landlord may consider you too demanding and chose to go with another applicant.
How long are rental contracts taken out for?
Similar to the UK, leases are taken out for one 1 year. The Tenant has the right to break the lease any time after the first six months have elapsed, by serving one months written notice. If no notice is served the lease will extend for a total of three years. Landlord does not have the option to terminate the lease during those initial 3 years except in the event that they will return to the property to reside. If the property has been on the market a while and has received little interest, the Landlord may consider an offer to get it rented, but we would not rely on being able to negotiate a large amount off a rent. You should come with your budget that you are prepared to spend, rather than think that you will be able to achieve substantial discounts.
What rental terms can I expect to achieve? Can I break the contract ?
In Spain rentals are typically taken out for one year. The Tenant has the right to break the lease any time after the first six months have elapsed, by serving one months written notice. If no notice is served the lease will extend for a total of three years. Landlord does not have the option to terminate the lease during those initial 3 years except in the event that they will return to the property to reside.
Can I break the lease in the term of the contract?:
Yes. as per the above when six months have elapsed
Can the Landlord break the terms of the contract?
Generally No. unless he can prove that he or his close family are returning to the property to reside.
What can I expect the contract to be like?:
The contract will be in Spanish but we will check the contents over for you and provide you with a summary in English if required.
Do my wife and I have to be present to sign the contract?:
Yes you will need to be present and both sign the contract at the Estates Agencies offices prior to taking posession of the keys.
What funds must I have ready to transfer ?
You will need to have the following in prepared funds: Security Deposit to the value of 1 month’s rent in the case of an unfurnished property, 2 month’s rent if furnished. The First months rent in advance. This will be the prorated amount taking you to the first of the following month in the event that the lease starts mid way through the month. Agency commission is generally one months rent (or in some cases, agencies will charge 10% of the annual rent). There is also a Government tax called the ITP Tax paid by the tenant, being 0,4 % of the rent for the maximum 3 year term of the lease. This tax has to be paid within 30 days from the lease signing date. Please note that if the tenant leaves before the three years are up on the lease – there is no refund on the overpaid ITP.
Utilities, Gas Electricity, water, and Internet plus the ”Gastos de Comunidad” Community Charges are also payable by the tenant. It is usual for these to be included in the rental price and paid for by the landlord.
Who is responsible for maintaining the property, me or the landlord ?
For the period directly after you have signed for the Property ( two weeks up to a month) the Landlord is responsible carrying out any identifiable repairs. From that moment on it is the tenant’s responsibility to attend to any minor maintenance issues in the property
However if there is any extensive structural repairs or maintenance to installations at the property then these continue to be the landlords responsibility for the duration of the contract.
Should I insure my belongings ?
Yes, unlike other countries where insurance is a mandtory part of being a landlord and renting property – this is not the case in Spain and therfore it is a good idea to take out your own contents insurance against loss or damage.