Buying a Property in SpainHoliday LetsLegal issuesLegal NewsNews in SpainProperty AdviceProperty NewsRental Act

Rental Act Amended: It is now essential there is no tenant when you buy

By April 2, 2019 No Comments

House keys on the rental agreement or the buy home contracts with the real estate property background

In the rush of laws being passed before the election, the Rental Act has been amended for the third time, basically back to the first amendment. Raymundo Larrian Nesbitt has neatly summarised it all in the article below. Even if you aren’t thinking on renting, there are a couple of points to be aware of –

  • “property buyers must now respect the whole duration of pre-existing lease agreements, even if they are not registered at the Land Registry.” – It is absolutely essential that there is no tenancy when you buy, registered or not, as there must be the possibility of the ‘informal’ tenant appealing and holding up possession for months. Even if the tenant has to leave for health reasons, there is a possibility that their family can continue in occupation for up to 8 or 10 years.
  • Also, holiday lettings can now be controlled by Communities of Owners in an Urbanisation, by being banned completely if 60% of the owners demand it and, if it is permitted, the Community can put a 20% surcharge on the monthly charge applicable to an apartment that is offered for holiday let.

Survey Spain Network of Chartered Surveyors, when carrying out Building Survey and/or Valuation inspections, can include a check for any indication that the property is permanently occupied.

Raymundo’s full article was published on Spanish Property Insight read it in full here