Compiled with the help of artificial intelligence, based on Spanish-language information. Source below the article.
Tenerife landlords urged to wait before signing new rental contracts
The College of Property Administrators of Santa Cruz de Tenerife has recommended that property owners exercise caution before formalising new rental contracts, while the new rental measures just approved by Spain’s Council of Ministers remain in force — measures that must still be ratified by the Congress of Deputies this Friday.
The College has issued this call in response to the two decrees approved by the central government, which include, among other measures, the possibility of extending certain housing contracts for an extraordinary period of up to two years and the automatic renewal of rental contracts, both of which are pending ratification in Congress.
Owners need clarity on contracts and conditions
According to the College, owners need to know clearly how long the contract will last, when they will be able to recover the property, what financial conditions they will be able to apply, how the rent will be updated and what legal regime will apply once the contract ends. They should therefore seek advice on the consequences of the new regulation.
“As chartered property administrators, we do not question the need to adopt measures to make housing more accessible, but those measures must offer legal certainty to both owners and tenants,” explains the president of the Tenerife branch of the CAF, Luis García.
A call for legal certainty
Along these lines, he points out that an owner preparing to formalise a contract now must understand that they are dealing with exceptional regulation whose application depends on its passage through Parliament. “So if the owner has no immediate need to formalise the lease, we advise waiting until the new regulatory framework is defined, because the owner must know with certainty what they are signing, for how long and under what conditions,” he continues.
He therefore insists that the constant changes to rental regulation can be counterproductive to the very objective being pursued and may cause the supply of housing on the market to shrink. “From experience, we know how the uncertainty facing owners has affected their intention to put their property up for rent,” he explains.
Concern over impact on the rental market
The Tenerife CAF recommends weighing up the consequences before taking on a contractual commitment that is uncertain at this moment. In any case, and without going into a detailed assessment of the content of the two decrees, it considers them a direct attack on private property, which will only make the problem worse by pushing out of the market families who could afford to pay rent but who will not be selected as tenants given the burden assumed by the landlord.
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