Requirements to meet by tenants
August 13th, 2021 |
Today we are going to review in this post what are the requirements that you have to meet in order to get a lease and be able to rent that home in which you want to live so much.
As a tenant, you must satisfy a series of requirements with the landlord or with the real estate company that is in charge of the management, so that you can formalize the rental contract for both parties.
We are going to review the essential requirements that you will have to meet and that can be requested in any rental contract.
Documentation that you must provide
Of course, as in any transaction, it is essential that you present your identification. A copy of ID or residence permit will be necessary to access the signing of the lease.
Normally, if the house is going to be occupied by several people, you must deliver the documentation of all those who will inhabit the rented property, even if they are not listed as tenants in the contract.
In some cases, they will ask you as a requirement when renting a home, some type of guarantee. This will depend on whether the solvency report made on you by the bank or insurer leaves room for doubts.
In these cases, the landlord can request a guarantee on your part, either a bank guarantee, which implies having an amount deposited in the bank in case there is any unforeseen non-payment of rent. Or it can be an endorsement in the name of another person, be it a family member or a third person, who presents their payroll or employment contract and shows that they can be held responsible in the event of non-payment of the tenant.
In the case of being a student or unemployed, the normal thing is that they ask you for the documentation of your parents or guardians and directly a person who endorses you and responds before the interference that may occur during the duration of the rental contract.
To formalize the rental contract, it is necessary for the tenant to verify the solvency of his future tenant. Normally this is done through a bank, although they can also take out insurance from an insurer or entrust it to an external company that takes care of these types of issues.
That is why they will always ask you for a copy of your employment contract, to see if with your income you have independence and solvency to pay the monthly rent and if this is not the case, request some type of guarantee to always ensure that there are no problems at the time to collect the monthly payments agreed in the housing contract.
It is also common for the tenant of the home that you want to acquire in the rental scheme, request some type of references from former tenants who have rented their homes to you.
In this way they can know what your history and behavior is when occupying a rental home. This type of references always help and can bring confidence to the landlord for the tenant, so that, if you have any positive reference commend that you present to your potential landlord, but did not get the requested.
Bond and deposit or additional guarantees
Once all the documentation issue has been solved. To finish formalizing the lease, they will request a bond in accordance with the Urban Leasing Law (LAU).
The amount of the deposit always corresponds to the monthly rental income of the requested home. Depending on the autonomous community, the landlord will have the obligation to deposit the deposit in the corresponding body of the community. In these cases it is a good decision to make sure that the landlord places the deposit in the corresponding agency so that there is no surprise when they have to pay you the deposit at the end of the rental contract.
In addition to the deposit, there are times when the landlord asks the person interested in renting the house for a guarantee or even a deposit with some economic amount, in addition to the deposit. In any case, it should not be confused and the amounts should be separated in the contract, each one in its specific section.
Other expenses when signing the contract
Normally at the time of signing and finishing the contract, other expenses are usually requested from the tenant who wants to occupy his new home.
It is customary to ask for the current month, if the tenant is going to move into the property on the date the contract is signed. If more is done with a period of time, that monthly payment will be paid when the occupation of the house is used.
You should also bear in mind that, if the rental of the house has been made through a real estate agent or agency, it is normal that you have to pay money for their services. The most common is that their fees are equivalent to one month of the rent of the house to be rented.
Be careful with misinformation, leave everything in the hands of professionals
You have to be especially careful with misinformation when making or signing a lease that can lead to many confusions on the part of both the future tenant and the landlord.
All these bureaucratic procedures must be carried out so that both the landlord and the tenant remain calmly and securely in accordance with the law of their contract and thus avoid possible penalties. It is always better to leave this work in the hands of professionals.
At Homewatch we offer you our services to do these procedures quickly and easily and that do not pose any inconvenience or concern for any of the parties. Contact us to see your case, we can surely help you.
Article by Vanesa Mena, Aug 13, 2021