Long term rental contracts now 5 years
The Royal Decree voted on Friday the 14th of December, published in the State Bulletin on Tuesday 18th and valid as of Wednesday December 19th 2018 has a number of changes but the most significant being the term of what is commonly termed a long term contract. These contracts were for a period of 3 years but this has been incresed to 5 years.
These contracts are for properties where it is the tenants main residence i.e. their home, rather than a property that they are renting as a second home. The second home contracts are typically anything from 2 - 11 months and also commonly known as 'winter contracts' as many of them take place over the winter months.
The citizens advice website below has all the updates to the Ley de Arrendamientos Urbanos (LAU).