1 .- What documents do I need to rent a property?
Your identification document (ID card, passport or residence card) in order to include your personal details in the rental contract, your contract of employment and your last three payslips to prove your paying capacity, or any other document that shows your finance reliability and solvency.
2.- How much money do I need to rent a property?
At least, when signing the rental contract you will need to give the amount equivalent to one month's rent as a deposit, plus the amount of the first month's rent.
Besides, depending on the case, you could pay all or part of the estate agent fees. The owner might also require additional guarantees such as a deposit of an extra amount, a personal guarantee, a bank guarantee, payment insurance, etc.
3 .- What is a guarantee?
Whether a personal or a bank guarantee, it is an extra warranty of payment. These types of guarantees are designed so that in case of non-payment of the rent or any other debt to the owner, the latter can get the necessary money from the bank guarantee, or demand the payment to the guarantor in the personal guarantee.
4 .- What is a debt insurance?
It is an insurance that covers payment of rent if the tenant fails to pay. More and more homeowners require an insurance of this kind, and the cost can be shared or on behalf of one of the two parties. Every insurance company has its specific policies and conditions, but they normally check beforehand the solvency of the tenant, job stability and income in order to ensure that you can pay the monthly rent.
5 .- Can I pay last month's rent with the money of the deposit?
The guarantee cannot be used to pay rents. The tenant must pay the last month and the landlord will return the deposit once the conditions of the property are checked and the mains bills are paid.
6 .- Do I need an inventory?
Yes, because it is the proof for both the landlord and the tenant of the furniture and belongings in the house. If you do not have the time to do a detailed inventory, take pictures and give copies to the other party.
7 .- Who pays the estate agent fees?
The estate agent acts as an intermediary between owners and tenants, so normally fees are paid between both parties. However, market conditions may change the rule and when offer exceeds the demand, as nowadays, owners pay all the fees and in times of bigger demand, are tenants who pay all the fees.
8 .- What is a seasonal/holiday rental?
It is a rental agreement for a period of less than 6 months, and the property is not considered the tenant's residence.
Any period longer than six months is considered the rental of permanent residence, with the right for the tenant to renew the contract up to five years.
9 .- Who should pay for home repairs?
The landlord is obliged to carry out the necessary repairs to keep the house in living conditions, as agreed, except when the damage is attributable to the tenant.
Small repairs required by the normal use of the property will be the responsibility of the tenant.
10 .- What other expenses will I need to pay as a tenant, in addition to the rent?
According to law, the tenant is obliged to pay for the mains (electricity, gas, water, telephone, etc.) and small damages caused by use, plus any other caused by misuse or accident.
However, the payment of the community fees, the IBI tax, garbage tax, etc. can be agreed with the owner.
In some rents ALL the expenses are included in the rent to a certain limit. But be careful with this since in the Canary Islands this may be a disadvantage, as residents pay much lower rates than those paid by a non-resident owner.
Paloma has been helpful and has made the process of buying a property in Spain extremely simple. She has organized all aspects of the process from the beginning to the end, making it a stress-free experience. I would have no hesitation in working again with Inmo-Estate in the future and recommend their services to anyone seeking a property in Lanzarote.
I want to thank Paloma and José Antonio for the pleasant treatment they granted me and would like to mention that they inspired me confidence straightaway. When I first stepped into the agency it was a rutinary visit, as I was looking for a property to buy in Costa Teguise; but a relationship that normally would have been a vendor-purchaser relationship in this case turned into a friendly relationship. I have to say that they managed perfectly the situation, as they understood quickly what type of apartment I wanted. I did not have to bother with any paperwork and although the transaction took place in August, normally a difficult time for any formalities, there was no problem at all. Above all I want to emphasize that I felt supported all the time and if I ever rent,buy or sell a property I will contact them again.
Professional English speaking Agent, Paloma explains all the aspects of buying or selling property clearly. This company keeps you updated throughout the transaction and makes Spanish property buying hassle free.
Inmo - Estate was recommended to us by someone who has used their services to purchase a property in Lanzarote. The service we received from the initial meeting until the final purchase of the property was first class. We found all the staff very friendly and helpful, and they all spoke good english which made negotiations much easier. Everything we needed to know was explained to us clearly- we always felt at ease during the whole operation. With the exception of transferring the funds and signing offical documents, Inmo - Estate dealt with all other issues, relating the purchase in a highly professional manner and were friendly all the times. We would highly recomend anyone purchasing a property to do this via Inmo-Estate. Satisfaction guarenteed !
Very efficient, very helpful, and a pleasure to do business with.
Very well. Very professional and friendly. Charming and helpfull. Everithing was explained to us in simple words, so we could understand. 100% reliable.
I felt very happy with the experience of buying a property throught Inmo-Estate and would recommend them without hesitation.
We had excellent service from everyone at Inmo- Estate both and the sale and purchase of property. All advice was excellent and every assistance was given to us which helped us to understand all the procedures necessary for each transaction.
We found Paloma to be most helpful and charming, both during the purchase period and afterwards. Buying porperty abroad for their knowledge and experience really helped. We recommend them to anyone looking to purchase.
On deciding to purchase a property in Lanzarote we looked araund various agencies and found that Inmo-Estate were the most professional in all aspects of the purchase. I personally dealt with Paloma and found that nothing was to much of a problem from the setting up of a bank account to the arrangement at a translator. If a ever decide to relocate within Lanzarote, I would look no further qaio than Inmo-Estate.
We found Inmo-Estate to be extremly professional, helpful and informatius. Nothing was too much trouble. We would like to thank Paloma particulary for all her help. She spent many hours of his time showing us around numerous properties and never lost heart that we would eventually buy one.
This agency is thoroughly recomended. Never pressurised,we were given every assistance. We were guided in detail throughout the buying process which is very different to that in our own country. Staff from top to bottom could not be more helpful.
Inmo - Estate was recommended to us by some friends who had used their service. On deciding to purchase a property in Lanzarote, we contacted this agency; the service was excellente both in consultancy and in personal care. Something important to us is that their service doesn''''t finish on the signing of the deeds, as the post-sale service is first lux replica class. Nothing is too much of a trouble for them, they can help you with any problem, beyond the professional ones. To sum up, we arrived as clients and left Inmo - Estate as friends.
Buying a home in your own country can be stressfuland is problably the biggest and most expensive decision to make during your life time. We thought making such a decision in a foreing country with a different culture, lenguage and laws would be even more daunting. However, with Paloma''s vibrant personality and her excellent command of English made us feel totally at ease. We viewed the property at 4pm, signed the contract at 7.30pm the same day and flew back to the UK the following morning at 10 am. During this shart period we had agreed to spend 4 times more on a property than we had ever done before. When back in UK we arranged to give Power of Attorney to Inmo - Estate Lanzarote. This saved the cost of the family flying back to Lanzarote to sign the Escritura. When we returned to Lanzarote all the click watches canveyancing had been done and we were handed the Deeds and keys of our property. Our actual experience was totally different to what we expected. In essence all what we had to do was sign the contract, arrange Power of Attoney in England and transfer the money; everything else was taken care of by Paloma. She even arranged our NIF numbers, trasferred the utility bills into our names and introduced us to La Caixa bank. We have no hesitation in recommending Inmo - Estate Lanzarote and particularly Paloma (the boss) to anyone who is thinking of buying a property on Lanzarote. If you need any further re-assurances please do no hesitate to contact us.
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