Your financial responsibilities when renting a property

Your financial responsibilities when renting a property

When choosing to rent a property, several costs arise that you must take on. Sometimes it can be confusing to determine who is responsible for which expenses.

One of the most significant costs you will have to face is the monthly rent, which you will have previously negotiated with your landlord.


Additionally, if the rental contract stipulates it, the rent can increase annually in line with the CPI. But there are more expenses that you will need to cover as a tenant. Let’s see what they are:

Key costs in a rental:

The monthly rent

As we mentioned earlier, the monthly rent is the main cost that the tenant must assume, paying it month by month, as established by the Urban Lease Law. This rent can increase each year if the contract indicates it.

Additional costs:

The security deposit

The security deposit is an additional guarantee that the landlord may require to ensure compliance with the lease contract. The maximum allowed is equivalent to two months of rent, which will be returned at the end of the contract if the house has no damages.

Maintenance and repairs

Who pays? An important question relates to the maintenance and repairs of the house. The owner is responsible for the necessary repairs and maintenance to maintain the habitability of the property, while the tenant will be responsible for minor damages and those caused by their fault.

Expenses for services

As a tenant, you will have to cover the costs of the contracted services, such as electricity, water, and gas, given that these are consumptions made by the occupant of the house.

Community of owners expenses

The ordinary expenses of the community are usually the responsibility of the owner, although it is not uncommon to see contracts where these expenses are transferred to the tenant, as long as it is specified in the contract. Extraordinary expenses must be paid by the owner.

Home insurance

Although the Urban Lease Law (LAU) does not require the tenant to have home insurance, it may be advisable to protect against possible incidents or serious faults in the house. However, if it is not stipulated in the contract, the tenant is not obliged to have insurance. The landlord may choose to hire rental default insurance to protect against possible defaults or damages caused by the tenant.

Article by Living Sitges Real Estate

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