Whether you’re a landlord or a renter, knowing which costs you’re responsible for is essential before signing a rental contract or when unexpected expenses arise, and theses costs can be multiple:
General bills:
Water, gaz, electricity and internet are expenses that the landlord can be responsible for, but depending of your contract, it is possible that the tenant has to take care of it.
Insurance and maintenance/repairs
Each party, landlords and tenants have to be insured to benefit from protection in the event of disasters like fire or burglary.
When something in the property is broken or don’t work anymore, Unless the damage was caused by the tenant, the landlord will assume the repair or replacement. The landlord must prove that the tenant did indeed cause the damage if he wants not to pay. one of the best ways a tenant can protect themselves is to make a photo-based inventory of all the small imperfections their let has as soon as they move in and to share it with the landlord.
Community fees
If the property is in a complex with communal spaces such as gardens and swimming pools then “gastos de comunidad” can easily amount to €100 a month. Usually, the landlord pay for it, but can easily put the rental price higher to justify it.
Security fees
You maybe want to install an alarm in your property, and it represents also a cost each month to get your home safe.
Taxes
IBI is a municipally levied tax and varies widely from one municipality to another and from one type of property to another.
IBI is in most of the case, payed by the landlord.
if your property remains empty for all or part of the year the Spanish Tax Office taxes the potential income your property could produce if it was rented. Let his property empty could be a real problem becauses of theses taxes.
All of theses running costs can be disturbing, it’s why it’s can be interesting to be helped by a property management company. They help you in the administrative part about taxes and costs, and must of all, they are charged to find you a fiable tenant quickly, covering Advertising, and Creating and registering rental contract. It´s a good way to rent your property without losing your time with relative issues.
A property sale manager usually costs around 8 percent of the rent each month.