Rental Agreements
What You Should Know About Rental Agreements
Leasing out a property in Spain can be a smart investment strategy—offering a consistent income stream and helping maintain the property in good condition. Monthly rental income often covers ownership costs like taxes and utility bills, and can even exceed mortgage payments. However, these terms must be clearly defined in a rental or lease agreement to protect the interests of both the owner and the tenant. At serviciosdextranjeria, we guide you through the rental contract process in Spain, making sure your rights and your property are safeguarded.
Contents of the Rental Contract
Full name and identification of the landlord
Tenant’s identification details
Complete address and official property registration
Agreed monthly rental amount
Rental period (start and end dates)
Inventory of all fixtures, furniture, and appliances included
Security deposit amount (typically equal to one month’s rent)
Duration of the Lease
The lease term is generally agreed upon between the landlord and tenant. However, if the lease is shorter than five years (or seven years if the landlord is a legal entity), the contract is automatically renewed annually until it reaches the minimum duration—five or seven years, respectively—unless the tenant provides written notice of non-renewal at least 30 days before the contract or extension ends.In Spain, a lease can be legally terminated for several reasons, such as the tenant failing to pay rent, subletting the property without permission, causing damage, making unauthorized renovations, or using the property for non-residential purposes. Termination can also occur if the landlord fails to maintain the property or engages in persistent disturbance or harassment. If you’re considering renting out your property, serviciosdextranjeria can help you draft a legally sound rental agreement. Including all essential clauses in your Madrid lease contract is key to avoiding legal issues and ensuring a secure rental experience.