Attention, all somewhat different: A new rent act has entered into force in Spain
More flexibility, more control, and new rights: How the Spanish government wants to boost the crippling tenancy market and what implications this will have.
By Daniel Olabarría
On 6th June of this year the Law 4/2013 of 4th June on the Spanish Tenancy Market came into force. The reason for the revised version of the former Spanish Tenancy Law is explained in the preamble:
“The Spanish real estate market is characterised by a high number of real estate and a weak tenancy market. In Spain, only 17 per cent of the population live in rented accommodation, as opposed to the European average of 30 per cent,”
it says.
The measures adopted are mainly targeted at private owners of vacant dwellings that are to be encouraged to enter long term rental agreeme...