Rent: differences between deposit and deposit?

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In Spain the rental of flats has risen around 19% en los últimos cinco años, donde los incrementos más notables se han producido en las dos grandes capitales: el 47,5% en Barcelona y el 38% en la ciudad de Madrid, según un reporte de Fotocasa. Donde se demuestra que hay cinco provincias —Baleares, Las Palmas, Salamanca, Barcelona y Madrid—, que han alcanzado su máximo histórico en este período. Sea cual sea el caso, el aumento de precio es muy superior al 10% anual.

Whatever the case, when a tenant is going to sign a rental contract for a house, he has to know very well what he is going to sign on the contrary between the two parties. Something that does not always happen due to the little understanding that exists in the tenants about the Urban leasing law (LAU). Where it is necessary to know what your rights are, obligations based on current regulations that regulate the rental housing regime in Spain.

One of the aspects where the controversy is greater is differentiating what in fact is a deposit and a surety. Because in effect, it is not the same despite its various coincidences. They are different concepts that you have to know how to differentiate at the time of formalizing the apartment rental contract. Not surprisingly, it can lead to serious disagreements between the landlord and the tenant himself. Because it is an amount that is delivered at the exact moment of making the real estate transaction, just before having access to live by the second figure of this procedure.

Are the deposit and the bond the same?

Definitely not despite the belief of some users who think it is the same concept. Even though what they do agree on is that their amount is usually very similar, with transactions of almost the same amount or at least with small differences. Whatever the case, we are going to clarify what these two monetary concepts consist of. In order that you do not have any problems when signing the contract for this type of occupation in the house. Because with the new regulations, there is no doubt that you will get the odd surprise, as you will see below.

There is no doubt that one of the main disadvantages that new tenants have when having access to live in a pio is the difference between deposit and deposit. It will not be very difficult to differentiate them from now on. So that you are more clear about what you are paying to the other party and what are the rights and obligations that you receive in both operations. In particular, after the changes that have occurred in the Urban Leasing Law (LAU). And that also affect the aspects related to the deposit and the guarantee in the rental procedure of the apartment or other property.

Deposit on rent

It is the most acceptable term for users since it is very common for it to be requested when having access to live in an apartment or apartment. In this regard, it must be explained that the tenant is obliged to deliver to the other party the legal bond. Well, the amount stipulated by law is one month's rent, which will be delivered to the owner. It should be explained that until the entry of the new regulations this payment could represent several monthly payments. It is an amount that serves as a guarantee against possible breaches by the tenant. Also to protect yourself from damage that may occur at home.

Si todo procede con total normalidad, esta cantidad (depósito) será devuelta al inquilino en los días siguientes al vencimiento del contrato. Para lo cual, el dueño de la casa comprobará que todo el contents sea el mismo que en el momento de tener acceso a vivir. Tendrás un period of up to 15 days for your return and if not, they would have to pay the corresponding interest, as collected by the Urban Leasing Law. Whatever the case, it is a concept that does not offer too many doubts to owners and tenants.

Conditions to recover the deposit

Whatever the case, a number of conditions must be met for this procedure to run smoothly for both parts of the procedure. This is very important to avoid certain incidents that could disturb this transaction when leaving the house by the tenants. And that are simply the following that we expose you below:

• Notify the owner in time and form of the decision to leave the property.
• Return the house in the same state in which you met him for the first time after signing the contract
• I have no debts or pending payments in monthly rents or in contracted supplies.

If all these commitments are met, there is no doubt that the deposit will be recovered in a very few days. Because it is a very common operation and is exercised in almost all contracts. Even when it is optional of the decision that the owner of the private property will owe. In this regard, special attention must be paid to what is defined in the contract. Because it can include a clause stating that, yes after the first six months, the apartment is abandoned before the end of the contract, they have the right to keep the respective part of the deposit. It is a special case, but it usually happens with some frequency.

What are security deposits?

Aún cuando muy parecido al anterior, no es lo mismo. Si no, por el contrario, existen diferencias sustanciales que debes saber a partir de estos precisos momentos. De acuerdo con la vigente Ley de Arrendamientos Urbanos (LAU), un propietario puede solicitar un depósito de estas características, como garantía adicional, a los futuros inquilinos. Su target it is protect yourself from potential breaches in the monthly payments or before problems in the house. Whatever the case, it is a not as common concept as the previous one and it is less usual for it to be formalized between both parties.

In this general environment, it is very important that you know from the first moment what you are paying in the operation. In other words, if it is a deposit or on the contrary it is a guarantee. Because in the first case it is the amount that the tenant must deliver to the landlord. It is not how you can think of a monthly payment, but on the contrary it is a amount agreed between both parties. With the result that the amount similar to two monthly rent payments cannot be exceeded in any case. They will not be able to charge you higher amounts since current regulations would be breached.

Another feature that differentiates the deposit from the bonus is that the first of them should not delivered to the competent body of the Autonomous Community. But on the contrary, it will remain in the custody of the owner. This is a subtle difference that needs to be accounted for in order for the entire procedure to go smoothly. Whatever the case, it is not very common these days for homeowners to ask for the deposit. In most operations, they tend to opt for the deposit as it is a more comfortable and understandable movement for both parts of the procedure when renting an apartment.

Return of the deposit

This is another aspect that will have to be very careful since it has a different mechanism than the deposit. For this specific case, is returned at the end of binding. But as long as there are no outstanding debts on the part of the resident. Nor that a contractual breach of the contract has been caused. As well as there should be no damage or incidents on the floor, caused by misuse of it. If everything is done correctly, the amount of the deposit must be returned a few days after the end of the rental contract.

With these explanations from now on you will have a clearer idea of which one or the other is. So that in this way, no last minute surprises that can cause you some other problem with these payments in the rent of the house. Something that is understandable when these concepts that are written in the contract between both parties in the real estate transfer procedure are not clear.

And whatever the case, they can be used so that any problem or conflict may arise between the tenant and the landlord. Something that should be avoided with the compression of these two terms. Beyond another series of more technical considerations that will be the subject of another treatment in different posts. But to finish, they are concepts that should not be confused in any way to avoid incidents in the formalization of payments.