With the contract of regular rental or other use, both individuals and companies can enjoy the use of a property during the agreed time in exchange for paying a rent.
What are the characteristics of the rental contract?
- Parties: they agree what property is rented out, during what period and for what price. Leases contract normally involves two parts: the owner of the property, although it may also be a former landlord who wants to sublease, and the tenant or person going to rent, which can be one person or more.
- Property: means a house, land, local or industry. In these last two it can be included in the accessories the company vehicle, the machines, materials, etc.
- The time of duration: it must be determined, and will vary depending on for what is rented. If it is for residence or long-lasting, for short season, for years, for weeks, for days…
- Price: in exchange for the use and enjoyment of the property, the tenant will pay an amount. It is agreed by the parties, as well as the payment terms and preferred payment method.
In what ways can I rent an apartment?
Next, we will see what types of leases are the most common:
- Rent of main residence: in this contract the parties agree that the housing will be the habitual or permanent residence of the tenant. The period extends from 3 to 5 years (extendable for periods).
- Season rent: periods of less than a year are normally agreed for dislocated workers, students, vacations, etc. They may have a very varied duration, depending of what is intended for (days, weeks, or months).
- Rent for use other than main residence: leases made with purposes other than use as a dwelling. For example, the rental of garaje space, storage room.
- Rent with buy option: in this double contract the parties agree:
– On one hand, the rental contract, where the duration and price will be established
– On the other, the leasing of the property contract. It contains the estimated time to exercise the option to purchase and amount to pay (initial premium, fee…).
- Rent of rustic finca or sharecropping: land lease with or without obligation to work and collect the outcome.
Additional clauses in contracts of rent of housing
Near the rental contract and its basic documents, it is common to attach accessories contracts for bail, bond, insurance, works, repairs or maintenance of property. These contracts will have different clauses. We will take them into account and to establish what will be his regime:
- Guarantees: If there is bail, it will be attached to the document indicating the date of payment, return and reasons why the tenant would not receive it. For example, breaking furniture or breach on the contract.
- The option to purchase and the right to preferential purchase: engages the rental of a dwelling for a certain time (usually 5 years) and once after that time has passed, the tenant has priority to acquire ownership of the property. In addition, what’s paid for renting is reduced in the final purchase price.
- Subletting, assignment and room rental contract: may not sublet or assign to a third party unless the owner’s express consent in writing. It may be at the time of entering into the contract of rent or later. Exception is the spouse or direct relatives who live in the house, as they are entitled to stand in the contract and continue as tenants.
- Safe rental: for greater safety and warranty, it will cover the risks of the lease.
- Use, enjoyment and purpose of content: set in the contract the purpose, use and enjoyment of the car improves relations between lessor and lessee.
- Works, repairs and maintenance of good: parties must clarify what kind of works for the improvement and conservation can be in housing, local, terrain… In addition to who will take care of these. Take a look at the Guide “Terms and conditions of the urban rental agreement” to know their possibilities.
What documents are necessary to safely celebrate a lease?
It is essential to add to the contract the following documents:
- ID, passport or document to identify owner and tenant / I.
- It is highly recommended to make a written or photographic inventory of furniture and accessories that contains the property. Thus, you will avoid problems where the tenant spoil or destroy anything or try to adapt an object to the end of the rental.
Remember that the contract must be signed by both parties and carry attached copy of the required documents. Use our documents to attach them to your contract, the secure online firm and send it in a few seconds from anywhere.