Legal tip 967. NEW! Rental Act coming today into force
Thursday, June 6, 2013 @ 3:18 PM
Law 4/2013, is its reference, and it makes a difference on the following aspects:
-Legal regime: It strenghtens freedom of agreements and gives priority to the will of the parties under the provisions of Title II of the Act
- Legal/obligatory duration of the lease: when it is for home use: mandatory extension is reduced from 5 to 3 years and tacit renewal from 3 to 1 year, in order to boost the rental market and give it greater flexibility.
- Recovery of property by the landlord, to be usedas permanent housing in certain cases, requiring that had passed at least the first year of life of the contract, without express provision therein-
- Contract cancellation by the tenant: Tenant can cancel the contract at any time after the expiry of at least six months, always notifying the landlord with a minimum of thirty days. It recognizes the possibility that the parties may agree a compensation for cancellation.
Law to be applied from today, 6th of June 2013. Previous contracts are regulated by former Act unless parties agree to submitt them to this new one.
Villaluenga del Rosario, Cadiz, South of Spain.