As a tenant of an apartment or house in Mallorca, it is almost impossible to avoid paying a deposit. The question of the amount of this deposit arises again and again.
Whoever rents a property in Mallorca will have to pay a deposit. The amount of this deposit can be one or two months' rent. Due to the large number of Spanish rental contracts and their content, a lawyer or real estate agent should check which deposit is required or permitted.
Basically, a distinction is made between short-term and long-term rental agreements. The latter include special protection for the tenant.
Rent deposit for long-term contracts
In the case of long-term rental contracts, the apartment or house is rented as a permanent residence. This tenancy agreement is subject to the Spanish Tenancy Act (LAU). According to the law, the landlord may demand a maximum of one month's rent as a deposit. In addition, the amount ("fianza") must be deposited in an account of the regional public administration. This ensures that the tenant is reimbursed at a later date.
In addition to the deposit, however, a landlord may demand further security. If the landlord is a natural person, these additional guarantees are not limited. Apart from the one-month deposit, this can quickly add up to two, three or even six times the monthly rent.
Rent deposit for other contracts
The situation is different for "legal persons", i.e. companies or businesses. These are permitted an additional guarantee of a maximum of two months' rent.
Short-term or other rental contracts in Mallorca are subject to the standards of Spanish rental law. This includes the regulations for offices, business premises and vacation accommodation. The tenant does not use these properties permanently, but only temporarily. In this case, the landlord must demand a deposit of two months' rent. However, additional guarantees in an unlimited amount are not excluded here either.
