Rights and obligations of owners who rent their house for a long time
September 27th, 2021 |
As owners of a home that we want to rent, it is necessary that we know the rights and obligations that we have to be able to enjoy our experience as tenants.
Home rentals are regulated by the LAU (Urban Leasing Law) and refer to the rentals of a property, whose function will be to serve as the tenant’s main home.
We are going to list and describe the most important aspects that can affect us when making a rental contract. Those issues that we must be clear about so that the experience we obtain when putting our empty home for rent is as satisfactory and simple as possible for all parties, so that we can have a good and fluid relationship with our tenant and we can take advantage of the advantages, and benefits, of having our home rented for long periods of time.
Deposit and other additional guarantees
The deposit is still the essential guarantee to ask the future tenant of your home. The payment of a deposit equivalent to one month of the monthly rent is mandatory when renting a property. Depending on the autonomous community in which you live, as a landlord, you will be obliged to deposit this deposit with the corresponding body to guarantee the tenant that this money will be there, at the time of finalizing the contract and making the return.
As a landlord, you have the right to have the home returned to you in the same conditions as it was before the start of the transfer of the property in the rental period. Being able to make use of the deposit for repairs or expenses and even request compensation from the tenant, given the need to face an expense greater than the deposit for the damages that may have been caused during their stay in the house.
As an additional guarantee, we can request up to two additional months of rent, as well as a bank or personal guarantee from an acquaintance or relative who responds to a possible non-payment of the tenant.
In the case of long-term rentals, those that stipulate in the contract a duration of more than five years, there are no limits when requesting guarantees from the tenant, being able to exceed those two additional months of deposit that ensure you as a landlord to collect the possible defaults of the lessee.
It is important that a bank or an insurance company make us a study of the solvency of the possible tenant so that they can indicate the ideal amount to request according to the possibilities of the tenant.
Right to receive the agreed rent
It is the main right that you have as a landlord, to receive the rent agreed with the tenant in the rental contract. This monthly payment is unavoidable for the tenant, it will be agreed in advance of the signing of the contract and the amount and form of payment that is convenient for both parties will be stipulated therein.
Conservation of the home
As a landlord, you are obliged to carry out the repairs that the house needs to preserve its habitability conditions. The obligation on repairs is limited to the destruction of the home for reasons not attributable to the landlord.
Small repairs required by wear and tear due to ordinary use of the home will be borne by the tenant.
Rights and obligations of the landlord when carrying out improvement works in the home
You have the right to carry out improvement works in your home and as long as they cannot wait for the end of the contract, the tenant is obliged to bear them. If you do not agree, you can terminate the contract by notifying you within a month, from when you are notified of the completion of the works.
You must communicate the beginning of the works in writing and three months in advance so that the tenant assumes them.
When carrying out this type of works, you are obliged as a landlord to make a reduction in the monthly rent to the tenant, in proportion to the part of the house of which he is deprived, during the time that the works last. As well as you also have the obligation to compensate him for the expenses that the works may cause him.
Entrust the rental of your home to professionals in the sector
As we have seen, there are many issues that we must take into account when putting our home up for rent. It is important that we know in depth all the obligations we have with the tenant and the rights that we have as landlords, so that there are no misunderstandings and we always know what we can or cannot perform.
From Homewatch we offer you our services for rentals, so that as a landlord you can carry out the rental of your home in the simplest possible way. We will help you with all the formalities and paperwork, we will advise you and together we will ensure that you enjoy the advantages of renting your home, which are many and do not worry about the most complicated part of putting it up for rent.
Leave the rental of your home in the hands of our experts and get ready to enjoy while your income increases without great worries.
Article by Vanesa Mena, Sep 27, 2021