17 Feb What is the rental reservation contract and why is it important?
Did you know that there is a contract that allows you to secure a rental property before signing the final lease? This agreement aims to ensure that, for a specified period, the property will not be offered to other potential tenants, providing peace of mind to the future tenant so they can formalize the rental without rushing or worrying.
This type of contract is very useful in the current real estate context, where many rental properties receive high demand. At Barcelona Flat Hunter, we explain how it works, what it includes, and how the rental reservation contract is regulated.
What is a Rental Reservation Contract?
A rental reservation contract is a preliminary agreement between the landlord or their representative and the future tenant, in which both parties commit to finalizing a lease under specific conditions. Through this contract, it is ensured that the property will be reserved until the signing of the final contract, once both parties have agreed on the terms.
Generally, this agreement is signed after the potential tenant has visited the property and agreed to the rental conditions, such as the price, duration, or clauses. It is recommended that landlords verify that tenants meet the prerequisites before formalizing this contract.
Types of Rental Reservation Contracts
A rental reservation contract can be managed in two ways: through a real estate agency or directly with the landlord. If an agency manages the property, they will draft and sign the contract, although the final decision will always depend on the landlord. If the contract is with the landlord, they will draft and sign the agreement, respecting the negotiated terms.
Content of the Reservation Contract
The contract should include the basic information of both parties and the property’s address. Additionally, it should establish the terms of the future rental, such as the type of contract, the monthly rent, the deposit and additional guarantees, the start date, and penalties in case of withdrawal. It’s crucial that everything is clear to avoid misunderstandings.
Consequences of Non-compliance
If either party breaches the contract, penalties may apply depending on the conditions.
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