Long term rentals in Spain is an agreement between the landlord and tenant to rent a property for either a season (12 months) renewable or for five years plus one. With the vast Meditteranean sea, Volcanic rocky lands, delicious Mediterranean cuisine, the vibrant culture and of course the beautiful sandy beaches accompanied by warm sunshine all year round. Spain is a definite holiday destination, and living in Spain is a dream come true!
Why long term rental?
The tenancy law in Spain is very lenient towards tenants. Most landlords agree to rent their houses for a year then ask the tenants to move out because tenants have the right to extend their tenancy up to five years or more from the second year of renting the same property. Long term lets are also cheaper compared to short term lets, and this makes it a good deal. Long term rental is also essential if you wish to relocate to Spain permanently. Renting on a long term gives you an excellent chance to survey the different areas in Spain, identify the places you like, check out the schools if you are a student or have school-going children and evaluate the cost of living and the job market.
If you are moving to Spain for retirement, you need to decide on your area of residence. This decision is easier after staying in different regions under different climatic conditions; as Spain experiences, all the four seasons and you want to make sure you settle in a place that is not extremely hot during the summer neither unbearably cold during winter. Staying in a long term rental apartment is the best chance you have to eliminate the different towns and the many Islands you have to choose from in Spain.
The best time to find a long term rental is during the winter since winter is a low tourist season and therefore most houses and villas are not occupied and are rented at relatively lower prices compared to the peak season. For furnished apartments, long term rentals require a two-month deposit before occupancy.
Types of long term rental housing in Spain
Depending on your location, long term rent ranges between 300 – 650 Euros per month but this rate will likely go up especially if you are looking at living in the major towns like Madrid, Barcelona, Bilbao and Palma de Mallorca to be precise. You will find housing such as:
- Apartments flats or apartamentos or pisos are trendy in Spain. Apartments are by far the most abundant type of real estate in Spain.
- Semi-detached duplex, or cassa adosadas, built in rows, and found in towns and villages. These duplex can have a communal garden with a shared pool and have two or three floors, with a garage.
- Villas, also commonly referred to as casas or chalets. Villas are detached, isolated properties, with its personal garden. Villas are rarely found in larger towns or cities but are very popular among wealthy Spaniards or ex-pats.
- Urbanizations, or urbanizaciones. Urbanizations are closed estates almost like a gated community, filled with several apartments, townhouses or villas. These gated communities also tend to be large and are often preferred for serenity, security and community.
- Country properties, or fincas, which are the typical farmhouses found in the interior parts of Spain. These properties are cheaper compared to rentals in the towns or Islands because of their location. However, country property is vast and provides an opportunity for ranching and other types of farming or if you like a lot of free space and air.
Spain is vast and deciding on where exactly is the best is sometimes tricky. The most favourable and affordable places to find long term lets are Costa Blanca, Costa Brava, Costa del Sol, Costa de la Luz, Tenerife, Ibiza, Mallorca, Lanzarote, Gran Canaria and Murcia to mention but a few.
Now before putting down your down payment or deposit, ensure you know what you are paying for. You must confirm whether the amount covers water and electricity bills or if you shall be paying these bills separately, also ask any questions you might have regarding your tenancy. Be sure your rental is either furnished or unfurnished depending on how much you are paying, also take note that houses in Spain are charged per square metre. Last but not least, visit and view your new apartment before paying and signing the contract.July 18, 2020