|
|
|
| |
Frequently Asked Questions |
| SOBRE ALQUILER CON OPCIÓN A COMPRA |
|
|
|
| |
|
For how long do you usually rent a property with an option to buy? |
 |
Normally up to a maximum of 5 years. |
| |
|
Is the sales price fixed, or does the price evolve over time? |
|
| The sales price rises annually in accordance with the Retail Prices Index (RPI). However, on shorter term contracts (up to 2 years) property owners usually maintain the original price. |
| |
|
What happens if the value of the property depreciates? |
|
| The tenant has the option to buy the property, but never the obligation. In the case that the price drops significantly below market value, the tenant can never be obligated to buy the property for a price superior to it. |
| |
|
At what moment can the tenant decide to buy the property? |
|
| The tenant has the right to buy the property at anytime throughout the contractual agreement. |
| |
|
What can happen the moment a contract expires? |
|
- The tenant exercises his right to buy.
- The tenant can negotiate a new R2B contract with the proprietor.
- The proprietor allows the rental agreement to continue, but the tenant loses the right to buy the property. In this case the tenant will not be able to claim back the down payment or any of the credit accumulated.
- The tenant has to leave the property and loses all rights to claim back any of the credit accumulated or the down payment.
|
| |
|
Can the proprietor sell the property to a third party? |
|
| No. Rent 2 Buy contracts are guaranteed and signed in the presence of a notary, and are also listed with the Spanish property registry. |
| |
|
What will happen if the tenant cancels the contract? |
|
- The tenant leaves the property and loses all rights to purchase it, as well as the down payment and all credit accumulated.
- If deemed appropriate, the owner can grant permission so that the tenant can assign the contract to another client.
|
| |
|
What are the consequences if the tenant is late with the payments? |
|
| If the tenant is more than 60 days late with the rent, then he/she will automatically lose the right to buy the property and also the right to claim back the down payment or any of the credit accumulated. |
| |
|
|
|
