LUXURY REAL ESTATE BARCELONA
Once the client has chosen a property, these are the steps to follow:
1 – Down-payment: reservation fee (Optional). The value of the down-payment is equal to a months rent and becomes part of the deposit once the lease is signed.
Payments required for the signature of rental contracts:
2 – Current month: the value of one months rent. This is paid on signing the contract.
3 - Deposit: money paid to the owner as a guarantee. Any damage to the property at the end of the lease period will be discounted from the deposit. The deposit is the value of 2 months rent for furnished properties and 1 months rent for unfurnished properties.
A guarantee of payment is also required:
4 - Guarantees of payment:
Bank Guarantee: a sum that remains deposited in the bank during the entire rental period. The purpose of which is to guarantee the payment of the rent and to guarantee the payment of possible damage to the property (attributable exclusively to the tenant). The sum of the bank guarantee should be equal to the value of 6 months rent.
Tenants Company Payment Guarantee letter (provided that the company is recognised and an officially registered entity): this can be used in place of a bank guarantee. The company will be liable for the payment of the rent and in-case of costs incurred in repairing damage to the property during the period of the contract. Occasionally the property owner may refuse to accept this document and will only accept a Bank Guarantee.
If the lease contract is signed on behalf of a company (I.E. NOT AN INDIVIDUAL), VAT will be added to the monthly rental payment value.
5 – Agency Fee: a sum equal to 10% of the annual rental value + VAT, must be paid by the tenant on signing the lease.
6 – Duration of the contract: the obligatory minimum rental period is one year and can be increased to a maximum of 5 years (the 4 remaining years are optional for the tenant and obligatory to the owner). When the tenant wishes to leave the property and terminate the contract they are required to send written notification to the property owner, specifying the date of cancellation of the contract (the tenant must give at least 2 months notice in advance of the requested cancellation date). The value of the rental payments will increase annually inline with the percentage of the CPI. There are also seasonal contracts (with a maximum contract duration of 11 months).
Rental property payment summary & documentation required at the signing of the contract:
Presentation of the bank guarantee or tenants company payment guarantee letter in the name of the property owner.
Deposit payment.
Current month payment.
Agency fee.
It is necessary to have a Spanish bank account to use for payment of the rent and the service/utility bills.
A current valid personal identification document, i.e. a NIE or Passport.
1 – Down-payment: reservation fee (Optional). The value of the down-payment is equal to a months rent and becomes part of the deposit once the lease is signed.
Payments required for the signature of rental contracts:
2 – Current month: the value of one months rent. This is paid on signing the contract.
3 - Deposit: money paid to the owner as a guarantee. Any damage to the property at the end of the lease period will be discounted from the deposit. The deposit is the value of 2 months rent for furnished properties and 1 months rent for unfurnished properties.
A guarantee of payment is also required:
4 - Guarantees of payment:
Bank Guarantee: a sum that remains deposited in the bank during the entire rental period. The purpose of which is to guarantee the payment of the rent and to guarantee the payment of possible damage to the property (attributable exclusively to the tenant). The sum of the bank guarantee should be equal to the value of 6 months rent.
Tenants Company Payment Guarantee letter (provided that the company is recognised and an officially registered entity): this can be used in place of a bank guarantee. The company will be liable for the payment of the rent and in-case of costs incurred in repairing damage to the property during the period of the contract. Occasionally the property owner may refuse to accept this document and will only accept a Bank Guarantee.
If the lease contract is signed on behalf of a company (I.E. NOT AN INDIVIDUAL), VAT will be added to the monthly rental payment value.
5 – Agency Fee: a sum equal to 10% of the annual rental value + VAT, must be paid by the tenant on signing the lease.
6 – Duration of the contract: the obligatory minimum rental period is one year and can be increased to a maximum of 5 years (the 4 remaining years are optional for the tenant and obligatory to the owner). When the tenant wishes to leave the property and terminate the contract they are required to send written notification to the property owner, specifying the date of cancellation of the contract (the tenant must give at least 2 months notice in advance of the requested cancellation date). The value of the rental payments will increase annually inline with the percentage of the CPI. There are also seasonal contracts (with a maximum contract duration of 11 months).
Rental property payment summary & documentation required at the signing of the contract:
Presentation of the bank guarantee or tenants company payment guarantee letter in the name of the property owner.
Deposit payment.
Current month payment.
Agency fee.
It is necessary to have a Spanish bank account to use for payment of the rent and the service/utility bills.
A current valid personal identification document, i.e. a NIE or Passport.
