Landlord selling long term rental property - Page 2

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Posted: Mon Jan 22, 2024 7:38am

Thy Will Be Done

Posts: 33

20 helpful points

Location: La Marina

Joined: 30 Dec 2023

Posted: Mon Jan 22, 2024 7:38am

Knc60 wrote on Sun Jan 21, 2024 11:17am:
Hi..
I have lived in the same rental apartment for 2.5 yrs and have long term agreement (5 years).

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My landlord is selling said property and the first viewing took place last week. Said contract does state landlord has to give me first refusal and 2 months notice if he / family require to live there. Said contract doesn't say anything about selling etc. He has said he will give me adequate notice as and when sale is agreed. I'm just trying to establish my legal rights re repossession , notice period and bond return. I do plan to seek professional advice next week but wondered if anyone had any experiences and / or advice. Thanks in anticipation

Hi knC60,

It's always a worrying time when something like this happens which is why you may find that the law is actually on your side.

Our Spanish bar registered solicitor has just successfully represented a client in a very similar case.

In general, if the landlord is not moving in with his family, then you must be given the opportunity to buy the property yourself or, if you do not wish or are unable to buy the property yourself then the landlord must market and sell the property as having an incumbent tenant in situ with the new purchaser then having to honour the terms of the existing contract which must stay in continuance for 5 years from the date of signature on or agreement to the last contract renewal, and that 5 year period may have to start from the last anniversary of the date on the original contract.

This law was introduced in Spain to provide tenants with a much greater element of security.

Your exact situation will of course be able to be determined upon sight of the original contract.

If you would like to engage our services we charge a fee for a consultation (which can last up to one hour) of 99€ which can either be face to face at one of our offices (the closest to you would be Elche if you live in Benidorm) or the consultation can be conducted over the phone.

During this consultation, all the information you will need to represent yourself will be provided to you, however, if you wish to then engage our services further to formally represent you ourselves, the 99€ fee you have paid will then be deducted from the fee for said representation accordingly.

Just give us a call on 865 756 058 and one of our team will be able to assist you.

Kind regards

Paul

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Posted: Mon Jan 22, 2024 10:06am

Knc60

Original Poster

Posts: 34

7 helpful points

Location: Benidorm

Joined: 24 Jul 2020

Posted: Mon Jan 22, 2024 10:06am

Thy Will Be Done wrote on Mon Jan 22, 2024 7:38am:
Hi knC60,
It's always a worrying time when something like this happens which is why you may find that the law is actually on your side.

Read more...

Our Spanish bar registered solicitor has just successfully represented a client in a very similar case.
In general, if the landlord is not moving in with his family, then you must be given the opportunity to buy the property yourself or, if you do not wish or are unable to buy the property yourself then the landlord must market and sell the property as having an incumbent tenant in situ with the new purchaser then having to honour the terms of the existing contract which must stay in continuance for 5 years from the date of signature on or agreement to the last contract renewal, and that 5 year period may have to start from the last anniversary of the date on the original contract.
This law was introduced in Spain to provide tenants with a much greater element of security.
Your exact situation will of course be able to be determined upon sight of the original contract.
If you would like to engage our services we charge a fee for a consultation (which can last up to one hour) of 99€ which can either be face to face at one of our offices (the closest to you would be Elche if you live in Benidorm) or the consultation can be conducted over the phone.
During this consultation, all the information you will need to represent yourself will be provided to you, however, if you wish to then engage our services further to formally represent you ourselves, the 99€ fee you have paid will then be deducted from the fee for said representation accordingly.
Just give us a call on 865 756 058 and one of our team will be able to assist you.
Kind regards
Paul

Good morning Paul

Thank you for your reassuring post. I'm sure many other expats who may find themselves in the same position will find said post invaluable too. Especially, as I read only yesterday about many landlords deciding to sell their rental investment properties here due to the government long term rent caps in popular destinations like Alicante.

My rent increase was capped at 2%.

Due to supply and demands rents are increasing by 16%.

My current rent is €560 pcm and for a similar but inferior 1 bed long term rental prices are now €750 (app 20%).

Said investments are no longer viable. So landlords are selling up.

Following your advice, i have just checked estate agents website. Said advert doesn't state there is an incumbent tenant. It states it is ready to move into . In essence it has vacant possession.!

Thank you for the consultation info too.

I will contact soon to make an appointment.

Many thanks