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New property rental laws for landlords

Tue 29th Dec 2009

New laws that came into place on December 24th essentially force landlords to improve the energy efficiency of the properties in their portfolio. These new laws are intended to assist the landlord by streamlining certain procedures, whilst still protecting the rights of the tenant. The Ministry argues that "the existence of a large number of unoccupied homes is contradictory and unacceptable given the needs of a significant proportion of the population".

Amongst these new laws are changes to the Urban Leases Act and the Civil Procedure Act, which is intended develop the rental market, and to encourage the improvement of the energy efficiency of residential properties.

With regards to the Urban Leases Act, the new rule expands the circumstances in which a certificate of the mandatory renewal of the lease is given, thereby adding to the rights of the tenant.

The changes to the Code of Civil Procedure are intended to allow landlords to take possession of their property quickly and easily in case of non-payment of rent, although this violates the rights of tenants.

"Additionally, having more effective mechanisms for streamlining will increase the confidence of both parties, which will help to reduce prices and prevent having to demand excessive guarantees (bonds)" says Beatriz Corredor.

The reform of the Property Act is also intended to encourage communities to make ownership agreements for improving energy and water efficiency of buildings. Another point made is that of encouraging and promoting sustainable transport, by the installation of electric charging points in car parks or garages for the use of those that use electric vehicles.

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