The information below is only a rough guide and we strongly recommend that you seek the advice of professionals before making decisions or engaging yourself in a real-estate project.
The Lease / Rental contract
The lease or rental contract is a compulsory document. It sets out the rights and obligations which bind the tenant and the landlord. It can be drafted directly between the landlord and tenant on a simple piece of paper. However, ideally it would be best to obtain a lease that conforms to the law. If you go through a real estate agency, the lease will be drafted by the agency. The lease must be in writing and signed by both parties, with each party keeping an original copy.
- The name and address of the owner or his representative.
- The lease commencement date.
- The length of the lease.
- The situation and description of the property (number of rooms, etc).
- The rent, payment date, conditions of payment and renewal conditions.
- The sum of the guarantee deposit, often referred to as security, if this is required.
Documents to annex to the lease
- If the property is under co-ownership, a copy of the co-ownership rules and regulations.
- The insurance policy against all rental risks.
- The guarantee deposit, unless it forms part of the lease.
- Details of the estate agency’s remuneration, if any
Renewing a lease
- By keeping the same conditions. In this case, it is not necessary to draw up a new lease and the lease will automatically be renewed for another three years.
- By changing the duration of the lease. The owner can reduce the limit for renewal from three years to a minimum of one. The owner must inform the tenant of his decision at least 6 months before the lease expires. In this case, a new lease will need to be drawn up, explaining clearly the reasons for this reduction. Two months before the lease expires, the owner he must once again confirm his wishes to the tenant via a registered letter or legal notice.
- If the owner wants to review the rent. This increase cannot apply to charges and must be spread out. The tenant must be informed of the decision 6 months prior to the expiry of the lease. If the tenant accepts the new rent, he must notify the landlord of his acceptance in writing. A new lease is not necessary.