All the advantages and disadvantages of renting by the room
When renting a house, you can choose to do it in the whole of the house or, on the other hand, restrooms.
An increasingly common option that involves a series of peculiarities, as well as advantages and disadvantages. Some pros and cons include the possibility of tax-deductibility or legal security, among others.
Are you thinking of renting by the room? Today in Uniplaceswereviewsome of the advantages and disadvantages of renting your house by rooms, so you can make the right decision based on your needs. We’ll tell you all about it below.
Whatis a room rental as saying the company Barcelona apartments for rent
Itis the possibility of renting the house in parts, where it is necessary to make a contract to each of the tenants. Itisnotpossibletomakeonefor the whole of the habitual residence, since they are separate contracts.
The conditions for renting by the room
Before reviewing the pros and cons, it is important to know in advance the conditions and characteristics of this rental model:
Whatlawgovernsthislease? It is not in the LAU (Law of UrbanLeases) but it is framed within the Civil Code.
Itis a contract between the parties.
Obligatory nature of the contract for each of the tenants.
There is no extension, it is fixed by the parties: at the time of establishing the rental periods, there are no pre-established one or extensions since it is not regulated by the LAU, but is agreed between the owner and the tenant.
Habitability of the dwelling which must be properly conditioned and furnished. Both the rooms and the common areas.
Common rules of the house: although it is rented by rooms there is a common responsibility between the tenants and the community of neighbors.
A contract for each person: it is necessary to make a contract with each new person.
Howisthismodeltaxed? Itisnecessaryto declares the income from the rent that can be deducted later. On the other hand, the tenant is not entitled to tax relief, in the case of a contract for a habitual residence, both the tenant and the owner have tax advantages. The landlord, for example, can deduct between 60% and up to 100% of the rental price from the rent.
Pros and cons
The particularities and conditions, as we commented, involve a series of pros and cons, let’s see:
-As it is not regulated by the LAU, a series of guarantees are lost.
-The tenant is not entitled to tax relief.
-Havingseveralcontracts and people, the situation is more complexforcoexistence and compliance with the rules.
-The landlord has the added difficulty and responsibility of choosing the right tenants.
-If it is a vacation rental, there is a risk of not having the rooms rented in certain periods.
-Althoughitdoesnothaveall the guarantees of the LAU, there are the basic ones offered by the Civil Code. Although this can provide freedom when establishing the covenants.
-Possibility of tax relief for rent, between 60% and 100%.
-Greater flexibility in terms of price and times.
An interesting model within this framework is student rental, as it compensates for the disadvantages of room rentals.
Ifitisrentedtostudents, the profitability is 14% higher compared to vacation rentals and there is the security of renting during the academic periods, at least 9 months a year. There is also additional stability in the rent, as student stand to extend the stay throughout the duration of the career.
In the case of students, the probability of non-payment is 0.01%, accordingtoUniplaces data. The main reason? Parents are the guarantor in 80% of cases.