onlineamiga

Hey all.

Just a quick enquiry. Found a brilliant apartment that Im very keen to rent (yup moving again, back to Estepona!) But the Agent is asking for 2 months as a deposit. Now i know its normally one month. but they aint budging. Obviously im a bit concerned with leaving such a large amount with.. well basically a complete stranger. They are Crystal Shore properties if anyones ever had any experience of them. He said that as the owner isnt a fiscal resident of spain, then the deposit would be held with them. But what if htey go bankrupt during the tenancy? What happens to my deposit?

Also interestingly, i can pay my deposit by credit card subject to a 2.5% card fee. Would this offer me any protection? I really want the apartment, as Ive looked at a lot of other apartments in the area and havnt liked them, plus I want to move quickly. So I'm tempted to just go for it anyway, but I would like to have some sort of comfort in the deposit being secured.

If anyone has any sound legal advice and some firm links to this (not just hear say) then i'd be very very appreciated to hear from you as soon as possible.

Thanks guys

Andrew

Mitzyboy

Have a read of this Andrew, should explain.
Seems it is illegal
http://www.spainlawyer.com/guialegal...04040200000000

spain

a solicitor is currently drawing up my contract as I am renting out my house, she asked if I want 1 or 2 months deposit....I am only asking for 1 but perhaps its up to the owner/agent ?

jdr

This has come up before a few times, this is the latest one I think HERE as far as I know legally any deposit should be held in some sort of bank account in case of business`s going down the swanny with the money held.

Mitzyboy

It has been discussed before
http://britishexpats.com/forum/showt...rental+deposit

But I guess theres a choice ... pay it and get the flat or dont pay it and look elsewhere ..... seeking legal redress aint going to get you the flat I guess

Mitzyboy

Ooops ....echo

rachelk

I suppose you have no direct contact with the owner?

I suspect the 2 months might be the agency rule, and an owner might be more flexible if s/he is keen to get the rental income.

That doesn't really help though, does it? Sorry.

onlineamiga

Heya

Thanks for your replies and sorry to bring it up something thats been discussed before.

The law does seem a little open about it. So Im getting the feeling that its not illegal as such to ask for 2 months deposit. Its just illegal to ask for 2 months rent up front.

Does anyone know how Mastercard would cover me in the event of an issue? Ie the company dissapears off with the cash?

Thanks,

Andrew

Mitzyboy

Im not sure you'd need to check .... isnt there a time limit on it with cards?
I know people who pay for holidays can be covered if paid by c/c

noelrosie

When we were recently searching for flats for our daughter to rent in Seville, several agencies asked for two month's 'rent'. One month was a 'fianza' or 'rent deposit' (supposedly refunded at the end of the contract) - the other was a 'finding fee' which was not refundable - so check the wording carefully!

Britishexpats gave us some very helpful advice as to how to avoid internet scams (of which there are many, and this in itself may be a reason to engage an agent)... but eventually a room became vacant in a building where other students were renting, and she was able to move in there just after Christmas!

03630

IMO, it is a bit like getting married. If you have the slightest pimple of a doubt, then don't.

It is not as though there is a shortage of places to rent.

Lionda

Are you sure it is 2 months deposit and not a month with one months rent up front?

spainboy

I thought normally an agent takes a one month rent as a fee.
Look around because you will find that some prices have actually come down on some properties and landlords are now not in a position to make the demands.
Theres some lovely Villas in benidorm now down to 600eu a month knocking as much as a third off the price simply because no one is filling them.
I have been in my house for 4 years and when we moved in the tennents opposite me were moving out. It is still up for rent 4 years later. One or two people have come to see the house but no one has ever moved in since.

Its a renters market right now and you are in control to make the right offer.!!

snikpoh

As a Landlord, I can possibly put the other view ...

The amount of deposit required is entirely up to the landlord but we are sometimes led by the agent. I have recently started asking for two months as I have had a few issues with non-payment of rent and this would go some way to helping with this issue.

Some agents charge both parties (landlord and tennant) one months rent and others seem to split the one month between both for the 'charges'.

It is a rentors market at the moment but having just had to take a tennat through the courts for non-payment, this really is the last step. So, as a landlord, we try and make sure that we get the right tennant in the first place. Unfortunately, one way of helping to do this is to ask for more deposit

jdr

What happens to the deposit ?
Is it kept in a seperate place in case the agent goes tits up and takes your money ?
I also read somewhere that the tenant can claim some sort of tax relief on the deposit ?