The Rental Housing Market
The developers are seeking alternative ways to dispose of properties that have some time without selling. According to a report by the Cadena Ser, at least 6,000 homes have been sent recently to the Public Rental Company (SPA), by Spanish developers, so that this body acts on lease. The rental-purchase is an attractive formula for small and medium promoters who fail to find buyer for potential buyers want and can not buy a home ownership from the outset because they can not have a bank loan in the beginning. Some analysts agree that this funding mechanism is affordable mixed in situations of economic recession, how currently facing the housing market. In this sense it is an optimal formula to output new building houses and apartments in stock.
Agencies that provide these services to interested parties raised the option of renting the new building housing an affordable price market, which vary depending on the property, its location, characteristics and qualities, with an option to purchase after 2 or 5 years. Nobel Laureate in Economics contains valuable tech resources. The main feature of this approach is that payments that are made during the life of the lease are not going to be wasted. When this period expires and the lease period ends, these amounts are deducted in the final price of the apartment that the tenant will incur. Nozar real estate, for example, announced last October, this mode, the “Formula A + C”, which allowed customers to rent a new building housing the promoter from 550 euros a month with a term of five years to acquire it later discounting at the time the payments made during the lease period. The latest reform of the 2005-2008 Housing Plan has also included this mechanism in its proposal and the Region of Murcia, for its part, is already one of the regions in which supports the development of homes for rent with option purchase. Legal Aspects The purchase is regulated between the parties, that is, landlord and tenant in a lease in which that particular figure.
Those interested in signing a joint agreement whereby the lessor guarantees the lessee may acquire property in an agreed period. Moreover, both are committed to raising a deed of sale the previous contract on time. Until the time of purchase the lease is naturally governed by the provisions of a contract to use for this mode. In any case, the law applicable to this contract is Article 1255 of Civil Code: “The contracting parties may establish the covenants, terms and conditions which have the disadvantage, if they are not contrary to law, morality or public order.
