Bail deposit contract for rental

When you are interested in renting a thing (house or object), you should sign an accessory contract of bail deposit for the lease, which guarantees the fulfillment of the main rental contract. Use this  bail deposit model to protect your property and to secure the payment by the tenant.

Bail deposit

The bail is the guarantee by which, the owners of a property to be rented, ensure payment of the conditions agreed in the main lease contract.
 

According to the bail deposit, if the tenant maintains the property, it will be returned to him as stipulated in the contract. If you breach the lease, (for example, you do not pay the rent) the landlord can keep the bail money. It also protects the landlord from losses and expenses arising from misuse of the thing or breach of pacts.

Bail characteristics

  • Parts: can be used by any particular person or company. 
  • Object: Both for real estate (housing, rustic or urban land, local, industry or business…), as for furniture (vehicles, machinery, etc.) 
  • It must be deposited in an entity until the end of the contract.
  • The deposit is compulsory for rental of properties, according to article 36 of law 29/1994, of 24 November, of urban leases. 
  • The quantity must be delivered in cash. 
  • After completing the contract, the amount deposited is returned to the tenant or person who rented the thing. The return will not take place if:

1. The contract has ended before the end for reasons attributable to the tenant. 

2. A monthly payment is missing. 

3. The thing has been disimproved or destroyed, being able to generate in the tenant the responsibility of having to indemnify the lessor according to the damage.

What does the leasing deposit cover?

  • Payment of monthly payments. 
  • Fulfillment of contractual obligations: as the total duration of the contract, works or improvements agreed, etc. 
  • The possible expenses for repairs after the termination of the contract of rent.

Where is the bail deposited or saved?

The Government of Spain has made available to the citizens that make rental contracts a secure service of deposit of bail, being obligatory for the tenant to keep it there until the end of the contract. Depending on the autonomous region where you reside, you will be entitled to a different office of bail deposit. 

How much is to be deposited?

  • Rental contract: In this agreement, it is usually deposited the corresponding of one month of rent, being able to be another amount as agreed by the parties. 
  • Rental of non-residential use: two monthly rents. Leases of use other than housing are considered, among others, those of housing by season and those of premises.
  • The rent of industry or business that implies the transfer of the use of the farm: two monthly rents. 
  • Rental of movable property: as agreed by the parties.

In the case of subleasing, the amount to be deposited will be the same as the initial rental.

 
18 January, 2018 9:04 pm

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