A new Real Estate Management Commission has just been created to curb risks and to guarantee value
Much more security and guarantees are the major elements the Spanish Government intends to deal with in the next future, proposing a new Rental Promotion draft law. Its main purpose is offering a secure and flexible market both for the lessee and the lodger.
Moreover, this new law aims strengthening the legal framework providing security for landlords and rights and guarantees to potential lodgers in Spain as well as reducing contracts length. The project has been recently approved by the Council of Ministers.
From now on, owners may recover their properties easily after the first year, said deputy Teodoro Garcia.
The future law changes regulated residence length allowing owners withdrawing the contract two months prior when providing excuses (need to use the property for personal reasons, for instance).
What’s more, investors willing to rent a property in Spain may enjoy much more security and flexibility: the rent amount is freely fixed between parties and the tenant may leave the house without penalty giving one month notice.
These measures, so popular in Europe, intend fitting Spanish laws to EU bills regarding rental housing.