If you are considering renting your accommodationyou must take into account an essential step and already mandatory in the majority of autonomous communities of Spain. Skipping it could cost you dearly, with fines of up to €90,000. So if you rent out your property, make sure you comply with the regulations to avoid unpleasant surprises. Do you want to know what management is?
The steps to take when renting your accommodation
Treasury and other organizations They ensure that owners respect their tax commitments. People who rent their homes have a bond series with the administrations.
THE Urban Leases Act (LAU) is established in the Article 36.1 the following: “Upon conclusion of the contract, the requirement and provision of a cash deposit in an amount equivalent to one month’s rent in the rental of accommodation and two in the rental for use other than accommodation will be mandatory.
Owners must deposit the deposit in the corresponding body established by the autonomous community in which your property is located. Any failure or delay in payment may result in fines.This deposit will be returned to the owners at the end of the rental contract.
Furthermore, the law specifies that “if one month has passed since the end of the contract, the Autonomous Administration or the competent public entity cannot proceed to return the deposited amountThis will incur the corresponding statutory interest.
Here is the list of organizations where you must deposit the deposit
Depending on each autonomous community The deposit must be deposited in another organization. In Asturias, Cantabria, Murcia, Navarra and La Rioja it is not mandatory. Here is the list:
- Andalusia: Housing and Rehabilitation Agency of Andalusia.
- Aragon: General Directorate of Housing and Rehabilitation.
- Asturias: Currently, there is no requirement to post a bond.
- Balearic Islands: Balearic Housing Institute.
- Canary Islands: Canarian Housing Institute.
- Cantabria: Currently, there is no requirement to post a bond.
- Castile and Leon: General Council of Urban Property Chambers of Castilla y León.
- Castile-La Mancha: General Directorate of Housing and Urban Planning.
- Catalonia: Catalan Soil Institute (INCASOL).
- Valencian Community: General Deposit Fund of the Autonomous Community.
- Galicia: Galician Institute of Housing and Territory.
- Madrid: Social Housing Agency of the Community of Madrid.
- Murcia: Currently, there is no requirement to post a bond.
- Navarre: Currently, there is no requirement to post a bond.
- The Basque Country: Basque Housing Service.
- La Rioja: Currently, there is no requirement to post a bond.
- Ceuta: Municipal Housing Company of Ceuta.
- Melilla: Melilla Municipal Housing and Land Company.
These are the fines for failure to deposit the deposit.
THE fines for not depositing the deposit with the competent body of each autonomous community vary according to each region.
In Andalusia Minor violations result in fines of 30 € up to 1800 € according to art. 88.3 of Law 8/1997. Serious cases are punishable by a fine proportional to 50% to 150% of the security deposit amount that you should have entered. And very serious violations will be punished with a penalty twice as high as serious violations.
In the Community of Madrid, Minor violations can range from 5% to 25% of the amount with a maximum of 6,010 €. If the violation is serious, fines can range from 26% to 50%, which can generate €90,000 fine.
In the Valencian Community Failure to pay bail is a serious offence and fines can be as high as 3,000 €. Finally, in Catalonia Minor offences generally do not exceed 35% of the bail amount (maximum €3,000), while serious offences carry a penalty of up to 35% of the bail value with a maximum of 6,000 €.
