If you don’t pay the rent, your deadline is 10 days

Well…this is an important step forward for landlords and owners in Spain.

The Spanish rental market is getting closer to what everybody needs: a more reliable market with a framework that makes renting safer for landlords in terms of payments from tenants.

From Monday 31st October 2011, tenants who do not pay the rent and economic duties with the landlord have 10 days in which to reply to the landlord requirement to pay their debt.

Once the landlord notifies the Court of any debt from the tenants, the tenants will face eviction much quicker than they have done up to now. In this new legal framework, it is expected that any eviction will be effective within 2 or 3 months maximum, rather that the average 10 to 12 months that currently landlords are experiencing.

This is a measure in order to protect landlords and make the rental market a strong option in this current economic environment.

According to the October report of the organisation “Ficheros de Inquilinos Morosos” (FIM), the number of tenants who do not pay their rent has increased by 15.4%.

This article is provided by The Spanish Brick Please contact them for further information. © The Spanish Brick 2011