Although it arrives a few days later than expected, it''s now official: the Official State Gazette (BOE) has published here the rental price reference index. This measure – effective since March 15, 2024 – establishes control over rental prices in 140 municipalities in Catalonia, with a duration of three years, with the possibility of extension.
In line with our commitment to always keep our readers well informed about the latest developments in the sector, at Atipika Lifestyle Properties, we clarify any questions about this new regulation. What does it exactly imply for tenants and landlords? Discover it here!
The Government''s Rental Price Reference Index
The rental price reference index sets limits on rental costs in areas identified as tense. That is, those that meet at least one of the following parameters:
- Average rental costs exceed 30% of local median income.
- Property valuation has grown more than three percentage points above the Consumer Price Index (CPI) over the past five years.
How does the rental price reference index affect?
As we were mentioning, it affects areas identified as tense. However, not all rental properties within these areas experience changes in their prices. It''s important to consider the following scenarios:
- Large landlords – with more than five urban properties, excluding garages or storage rooms in Catalonia, or with more than ten urban properties in Spain, or a total area of more than 1,500 m² – are required to follow the limits imposed by the index.
- Holders – both large landlords and individual owners – offering rental properties not leased in the last five years or ever, must also establish prices according to the index restrictions. In case the calculation application doesn''t provide us with any index, it will be understood that the rent agreed between the parties is free.
- Housing in a tense area, but of small landlords – in new contracts, the rent cannot exceed the last contract rent that has been in force in the last five years, without new conditions or expenses that were not included in the last contract being able to be set, once the rent update clause of the previous contract has been applied.
- Owners offering temporary rental apartments are exempt from the mentioned measures, as the corresponding index does not apply to this modality. At Atipika, we have solid experience in managing temporary rentals, backed by the fact that our first department opened focused precisely on this service.
Fiscal incentives coming into effect.
Reductions in positive net income applicable to personal income tax are introduced in rentals of properties destined for housing.
- In a declared tense area:
- A 90% reduction in positive net income is applied if the new contract reduces the rent by more than 5% compared to the rent of the previous contract, without making a distinction between large and small landlords, but rather a general reduction for all holders.
- A 70% reduction in positive net income is applied if the housing is the first lease in a tense area and if the tenant is aged between 18 and 35, or when it is a public administration or a nonprofit entity.
Manage the rental of your property with Atipika Lifestyle Properties
With over 25 years of experience in the sector, Atipika
has established itself as a leader in both long-term and temporary rentals. From apartments and houses to entire buildings, our extensive experience covers all types of properties, serving individual owners as well as investment funds.
Our presence is not limited to the national market; we also stand out internationally. We have a highly trained multilingual team to meet the needs of a global clientele.
In addition to facilitating the connection between landlords and tenants, we offer a comprehensive
management service. This simplifies and speeds up the entire process for the landlord, allowing them to focus on administrative tasks and ensuring efficient property management.
At Atipika, our mission is to provide
comprehensive and quality service that meets the needs of both landlords and tenants, ensuring a positive renting experience with us.
Ready to get started? We invite you to visit our offices in Barcelona, Castelldefels, or Menorca, where you will receive the exclusive and professional attention you deserve.
You can contact us by calling 934815032, sending an email to
info@atipika.com, or visiting our offices located at:
- Barcelona: Passeig de Gràcia 20, 2º 1º
- Castelldefels: Avinguda Saragossa 1-3, Local 19-20
- Menorca: Avinguda de Fort de l''Eau, 64, Maó
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