Period of long-term rental contracts

 In rental contract

Minimum legal period of 5 years

Hi All,

Just a brief note to inform you of the latest changes in the law regarding the length of time that long-term rental contracts of residential properties are valid for. These changes are to protect the tenants and allow them to stay longer.

If you own a residential property and are thinking of renting it long-term, you need to know that by law there is a minimum rental period of 5 years that must be respected by the landlord.

This means that if you agree to rent your property for 1 or 2 years, the tenant will automatically have  the legal right to remain in the property for up to 5 years, even if the period agreed in the contract is only 1 or 2 years.

Please note that the Law also allows tenants to leave the property after the initial 6 months of the rental period, just by notifying the landlord, even if the period of the tenancy agreed was 1 or 2 years.

For this reason it is advisable to agree to mention in the contract a compensation clause in favour of the landlord in case the tenant decides to use his legal right to leave the property after the first 6 months and before the end of the period agreed in the contract.

In conclusion: it is recommendable to use a solicitor to draft a sound rental contract when deciding to sign one as landlord or as a tenant. Our charges for drafting and negotiating rental contracts are 250 euros (21 % VAT included).

If you require assistance with this or any tax matters do not hesitate to contact us.
Tel. Tel. 952 901

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