What is long term rental?
In Costa del Sol, the term long term rent, or larga temporada, indicates a rental period longer than 2 months. The rental period can stretch up to 5 years. The standard long term rental contract is for 11 month, and can contain an option to extend for another year. To rent out a property long term in Spain, it is not necessary with a rental license, which otherwise is mandatory for short term rental.
Normally, the owner will pay for tax (IBI), fees for garbage (basura) and community fees. The tenant who rents the property is responsible to pay for electricity, water and gas. Naturally, other agreements can be stipulated in the rental contract which is mandatory. It is normal to pay 2 months deposit, and minimum 1 month rental fee in advance. Long term rental properties on Costa del Sol are normally advertised with a price per month.
What is short term rental?
Short term rental is rentals between 1 week and 2 months, in most cases 1-2 weeks. Short term rentals are also known as holiday rentals, or vacation rental. The conditions are very different than long term rentals on Costa del Sol. A short term rental operates the same way as a hotel room. All expenses are included and you will pay a fixed cost for the entire stay. To rent out an apartment short term in Costa del Sol, the owner needs a license. The “licencia turistica” ensures the property lives up to basic requirements of safety and comfort. Furthermore its a guarantee to know who owns the property, and who to contact in case of problems.
Properties for short term rent are often advertised multiple places, directly by the owner. Portals such as Airbnb, Tripadvisor and Hotels.com often have a great selection of short term rental properties. Avante Real Estate does not advertise short term rental properties.
Long term Rental contracts Costa del Sol
If you are renting a property long term in Costal del Sol, we strongly advise you to have a rental contract. The contract will stipulate the payment terms, duration, and your obligations. Your rental contract will also define the condition of the property, and any inventory – especially with a furnished property. For a contract to be legal in Spain, it needs to be in Spanish. However, it can be printed in 2 languages for the ease of understanding. If you are not familiar with Spanish rental laws, you should always have you real estate agent to go through the contract.
A standard contract is for a duration of 11 months, with the possibility of renewal. An 11 month contract is normally used even if both tenant and landlord are interested in a longer agreement. The reason behind this is some very extensive rights awarded to the tenant after 12 months rental. This is unique for Spain, and the typical 11 month contract resemble similar long term rental contracts throughout Europe.
When renting a property on Costa del Sol through an agency, it is normally necessary to pay an agency fee. The agency fee covers the expenses the agency have in advertising the property, checking paperwork and create the rental contract. The fee is normally equivalent to 1 month rent, and is paid directly to the agency who are offering the property. You should never pay an amount higher than 1 month rent in agency fee. Sometimes the agency will have an agreement with the owner, who will cover this fee, but it is not very common. You pay the agency fee directly to the agency, and it is not a part of the rental contract.