Madrid, May 3, 2023.
The Rental Law in Spain: main changes and their impact on the real estate market, according to the Català Reinón Law Firm
The new Rental Law in Spain, as explained by the Català Reinón Lawyers firm, has generated controversy between owners and tenants. The regulation, which will enter into force in May 2022, presents several significant changes in the rental market, in order to improve the protection of tenants and promote access to rental housing. One of the most relevant novelties of the new law is the extension of the minimum term of the rental contract from three to five years. This seeks to provide greater security and stability to tenants, reducing uncertainty about their situation in the long term. In addition, the law limits the amount of money that landlords can demand from tenants as a deposit, establishing a maximum limit of two monthly security payments and an additional monthly payment for possible home improvements. Another relevant change introduced by the new law it is the limitation of the additional guarantees that the owners can demand from the tenants. The regulations establish that an additional guarantee may only be required in areas with high prices or in cases of seasonal contracts. Although this may generate distrust among owners and increase the risk of non-payment by tenants, this measure is expected to contribute to reducing the costs of access to housing in some areas. On the other hand, the new law establishes a control prices in areas with a low supply of rental housing, which limits the freedom of owners to set the rental price. This measure aims to reduce prices in areas where the offer is limited and make access to rental housing more accessible. In short, the new Rental Law in Spain brings significant changes to the rental market, with the aim of to improve tenant protection and access to housing. Although some of these changes may cause damage to owners, the new regulations are expected, according to the Barcelona Law Firm, Català Reinón Abogados, to have a positive impact on the rental market and on the lives of citizens. If you need legal advice, you can count on the experience and knowledge of lawyers specialized in the matter, either in Barcelona or a law firm in Madrid.
Contact Contact name: Català Reinón Abogados Contact description: Civil Law Department Contact telephone number: 900707707
