Fianza:
Paying a deposit is a form of guarantee to show that a promise or obligation will
be fulfilled.
In a letting contract the deposit is
the amount of money the tenant needs to pay the landlord as a guarantee that they
will abide by the contract. The deposit is paid back to the tenant at the end
of a letting contract unless the tenant has broken the terms of the contract or
used as the final month's rent.
The law for urban
lettings stipulates that deposits should be kept to a minimum, usually equivalent
to one month´s rent. The tenant is obliged by law to pay the deposit which
is only returnable at the end of the letting contract.
Landlords
are also allowed to ask for other types of guarantees such as personal references,
bank references etc.
Deposits are regulated by the
law for urban lettings (LAU) under article 36.
Related
links:
Property in Spain