NEW rental laws have come into force, giving even more rights to tenants with the aim of adapting to our current economic climate.
The recent changes include a cap on annual rent increases.
This means that rather than the amount fluctuating in accordance with the ‘CPI’, (the reference inflation index currently used in most rental contracts) a 2% rental cap will continue.
This will rise to no more than 3% in 2024 even if the CPI goes through the roof.
The landlord will be the one responsible for the costs of writing rental contracts and any rental agents’ fees.
Also, the contract can no longer contain any clauses ‘agreed between the parties’ if these are contrary to any current Housing Act Laws.
The percentage of land set aside for new subsidised housing will increase from 30-40% on development land and from 10-20% for unconsolidated urban land.
There is to be an increase in the surface area of ‘rental tension zones’ – areas defined as neighbourhoods where the rental costs exceed 30% of the household income or where rents have risen by 3% more than the CPI in the last 5 years.
There are changes to the eviction process including mandatory access to out-of-court settlement procedures for vulnerable people.
Tax incentives for small homeowners remain in place, but there will be a surcharge on annual council tax (IBI) for unused properties which have been empty for over two years, without just cause.
This surcharge can be up to 150% if an owner has more than four empty properties.
With regular law updates in Spain – it is good to know your rights – our friendly team at Alba Consultas can advise you on the rules applicable to your individual needs and guide you through the process of renting or buying in Spain.
For any help and advice on legal issues, you can contact me at: ALBA Consultas – Legal Advisers
(+34) 96 561 5061 / +34 692 386 293
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