{"id":24997,"date":"2019-04-18T14:34:32","date_gmt":"2019-04-18T14:34:32","guid":{"rendered":"http:\/\/hermesmathew.com\/en\/?p=24997"},"modified":"2020-08-23T16:49:41","modified_gmt":"2020-08-23T16:49:41","slug":"further-action-to-implement-the-rental-sector","status":"publish","type":"post","link":"https:\/\/hermesmathew.com\/en\/further-action-to-implement-the-rental-sector\/","title":{"rendered":"Further action to implement the rental sector"},"content":{"rendered":"<p><strong>The Spanish Government approved in the last Congress of Deputies of this legislature a Royal Decree with urgent measures to implement the rental sector. This new regulation implements with important modifications the existing rule, that both landlord and tenant must get to know. <span lang=\"en-US\">Hermes &amp; Mathew <\/span><\/strong><span lang=\"en-US\"><strong>introduces all the useful information<\/strong> <\/span><strong><span lang=\"en-US\">to you.<\/span><\/strong><\/p>\n<p>Although most of the measures have been recovered from the previous Royal Decree of mid-December that <span lang=\"en-US\">was not approved<\/span><span lang=\"en-US\"> in the <\/span><span lang=\"en-US\">Congress of Deputies<\/span><span lang=\"en-US\">, <\/span><span lang=\"en-US\">there are changes that come into force and are important to <\/span><span lang=\"en-US\">pay <\/span><span lang=\"en-US\">to<\/span><span lang=\"en-US\">. <\/span><span lang=\"en-US\">D<\/span><span lang=\"en-US\">uration of the contracts extension, limitation of the rise in the price of the rental <\/span><span lang=\"en-US\">property<\/span><span lang=\"en-US\">, <\/span>Consumer Price Index (CPI),<span lang=\"en-US\"> or additional guarantees <\/span><span lang=\"en-US\">in addition to<\/span><span lang=\"en-US\"> the <\/span><span lang=\"en-US\">deposit<\/span><span lang=\"en-US\">, are some of the novelties incorporated in the new regulation.<br \/>\n<\/span><\/p>\n<h2><span lang=\"en-US\">Property <\/span><span lang=\"en-US\">rental sector &#8211; Contracts<\/span><\/h2>\n<p>Regarding lease agreements, the new Royal Decree includes,<\/p>\n<ul>\n<li><strong><span lang=\"en-US\">R<\/span><span lang=\"en-US\">ental contracts duration is <\/span><span lang=\"en-US\">expanded<\/span><\/strong><span lang=\"en-US\"><strong> from 3 to 5 years<\/strong> (7 years, if the lessor is a legal entity), with an <strong>option to <\/strong><\/span><strong><span lang=\"en-US\">be extended <\/span><\/strong><span lang=\"en-US\"><strong>from 1 to 3 years<\/strong>, if neither party <\/span><span lang=\"en-US\">do not object <\/span><span lang=\"en-US\">elapsed the first 5 or 7 years.<\/span><\/li>\n<\/ul>\n<p>However, <strong>this <span lang=\"en-US\">is a <\/span><span lang=\"en-US\">measure <\/span><span lang=\"en-US\">without <\/span><\/strong><span lang=\"en-US\"><strong>retroactive effects<\/strong>, and only <\/span><span lang=\"en-US\">applies to <\/span><span lang=\"en-US\">new leases signed since the new law came into force.<\/span><\/p>\n<ul>\n<li>In the event that the owner (natural person), <strong>would like to <span lang=\"en-US\">recuperate<\/span><\/strong><span lang=\"en-US\"><strong> the property during the term of the contract<\/strong>, the new RD establishes that it must be &#8220;expressly included in the rental agreement&#8221;.<\/span><\/li>\n<\/ul>\n<ul>\n<li>Except for long-term contracts, <strong>the <span lang=\"en-US\">deposit<\/span><span lang=\"en-US\"> is limited to 1 month and 2 months of rent, <\/span><span lang=\"en-US\">and<\/span><\/strong><span lang=\"en-US\"><strong> the additional guarantees to the deposit<\/strong> (<\/span><span lang=\"en-US\">such as, &#8211; <\/span><span lang=\"en-US\">amount in deposit, bank guarantee, personal guarantee -, among other options).<\/span><\/li>\n<\/ul>\n<ul>\n<li>The<strong> time <span lang=\"en-US\">for notifications <\/span><\/strong><span lang=\"en-US\"><strong>is increased<\/strong> by the landlord and the tenant when<\/span><span lang=\"en-US\"> it is desired to terminat<\/span><span lang=\"en-US\">e the contract, once the expiration date of the contract or any of its extensions has arrived. <\/span><span lang=\"en-US\">In the event that the l<\/span><span lang=\"en-US\">andlord<\/span><span lang=\"en-US\"> want to send a notification to the tenant<\/span><span lang=\"en-US\">, <\/span><span lang=\"en-US\">it should be done at lea<\/span><span lang=\"en-US\">st 4 months in advance. If the tenant is the one who wants to leave the apartment, he or she must notify at least 2 months before the departure.<\/span><\/li>\n<\/ul>\n<ul>\n<li>The <strong>increase in the price of rental <span lang=\"en-US\">properties<\/span><\/strong><span lang=\"en-US\"> will be linked to the <strong>Consumer Price Index (<\/strong><\/span><strong><span lang=\"en-US\">CPI)<\/span><\/strong> <span lang=\"en-US\">during<\/span><span lang=\"en-US\"> the lease <\/span><span lang=\"en-US\">term<\/span><span lang=\"en-US\">.<\/span><\/li>\n<\/ul>\n<ul>\n<li>From now on, if the <strong>landlord is a legal person<\/strong>, <span lang=\"en-US\">will be <strong>charged<\/strong> the <strong>costs<\/strong><\/span> <span lang=\"en-US\">for<\/span><span lang=\"en-US\"> real estate management and contract<\/span><span lang=\"en-US\"><b>.<\/b><\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>If a third party buys<\/strong> a rental <span lang=\"en-US\">property<\/span><span lang=\"en-US\">, the <strong>current contrac<\/strong>t regardless of whether or not it is registered in the Property Registry, <strong>will<\/strong> <\/span><strong><span lang=\"en-US\">be respected<\/span><\/strong><span lang=\"en-US\">.<\/span><\/li>\n<\/ul>\n<ul>\n<li>In rented dwellings w<span lang=\"en-US\">ith<\/span><span lang=\"en-US\"> vulnerable members (<\/span><span lang=\"en-US\">disabled <\/span><span lang=\"en-US\">persons, minors, <\/span><span lang=\"en-US\">people <\/span><span lang=\"en-US\">over 65), in case of death of the contract holder, the rent will be subrogated to the rest of the tenants.<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>A state reference index of properties rental price is established<\/strong>. This tool helps to monitor the market that aims to help the Autonomous Communities to set fiscal measures. It will be updated annually and is intended to be as detailed as possible.<\/li>\n<\/ul>\n<h2>Tax measures for rental sector &#8211; P<span lang=\"en-US\">roperties<\/span><\/h2>\n<p>In parallel with these measures, the Royal Decree also <span lang=\"en-US\">considers<\/span><span lang=\"en-US\"> other fiscal measures for renting <\/span><span lang=\"en-US\">properties<\/span> <span lang=\"en-US\">which<\/span><span lang=\"en-US\"> provide benefits to both the landlord and the tenant. The most outstanding are,<\/span><\/p>\n<ul>\n<li>Owners of officially protected <span lang=\"en-US\">properties wanting to rent<\/span><span lang=\"en-US\"> them, &#8211; but at a limited price by the City Council or the Autonomous Community -, may obtain a bonus of up to 95% on the <\/span><span lang=\"en-US\">Property Tax (<\/span><span lang=\"en-US\">IBI<\/span><span lang=\"en-US\">)<\/span><span lang=\"en-US\">.<\/span><\/li>\n<\/ul>\n<ul>\n<li><span lang=\"en-US\">T<\/span><span lang=\"en-US\">enant <\/span><span lang=\"en-US\">will not have to keep <\/span><span lang=\"en-US\">paying <\/span><span lang=\"en-US\">for the <\/span><span lang=\"en-US\">Patrimonial Transfer Tax (ITP) when <\/span><span lang=\"en-US\">signing a<\/span><span lang=\"en-US\"> rental contract for a permanent and stable home.<\/span><\/li>\n<\/ul>\n<p>These are, outlinin<span lang=\"en-US\">g the main features<\/span><span lang=\"en-US\">, the most important measures included in the new regulations <\/span><span lang=\"en-US\">regulating<\/span><span lang=\"en-US\"> housing rental market.<\/span><\/p>\n<p><span lang=\"en-US\">Please note that<\/span><span lang=\"en-US\"> Hermes &amp; Mathew is your reference <\/span><span lang=\"en-US\">R<\/span><span lang=\"en-US\">eal <\/span><span lang=\"en-US\">E<\/span><span lang=\"en-US\">state <\/span><span lang=\"en-US\">Agency, the most <\/span><span lang=\"en-US\">prestig<\/span><span lang=\"en-US\">ious<\/span><span lang=\"en-US\"> and professionalism in Barcelona. <\/span><span lang=\"en-US\">Our portfolio offers a<\/span><span lang=\"en-US\"> <a href=\"http:\/\/hermesmathew.com\/en\/alquilar\/\" target=\"_blank\">wide range of apartments for rent<\/a> and especially <\/span><a href=\"http:\/\/hermesmathew.com\/en\/comprar\/\" target=\"_blank\"><span lang=\"en-US\">properties<\/span><\/a><span lang=\"en-US\"><a href=\"http:\/\/hermesmathew.com\/en\/comprar\/\" target=\"_blank\"> for sale<\/a> and <a href=\"http:\/\/hermesmathew.com\/en\/propierty-search-english\/?lang=en&amp;location=any&amp;status=any&amp;type=pisos-con-licencia-turistica-en&amp;min-price=any&amp;max-price=any\" target=\"_blank\">tourist flats<\/a>, in the best areas of the city.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Spanish Government approved in the last Congress of Deputies of this legislature a Royal Decree with urgent measures to implement the rental sector. This new regulation implements with important modifications the existing rule, that both landlord and tenant must get to know. Hermes &amp; Mathew introduces all the useful information to you. Although most [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":24459,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185,316],"tags":[304,355,356],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Further action to implement the rental sector | Hermes &amp; Mathew<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hermesmathew.com\/en\/further-action-to-implement-the-rental-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Further action to implement the rental sector | Hermes &amp; Mathew\" \/>\n<meta property=\"og:description\" content=\"The Spanish Government approved in the last Congress of Deputies of this legislature a Royal Decree with urgent measures to implement the rental sector. This new regulation implements with important modifications the existing rule, that both landlord and tenant must get to know. Hermes &amp; Mathew introduces all the useful information to you. 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