Amendments to the Urban Leasing Law and Rural Leasing Law

 

Law 2/2015, of March 30, on the deindexation of the Spanish economy.

First final provision. Amendment of Law 29/1994, of November 24, 1994, on Urban Leases.

Law 29/1994, of November 24, 1994, on Urban Leases is amended as follows:

One. Article 18, paragraph 1 shall be worded as follows: “1. During the term of the contract, the rent may only be revised by the lessor or the lessee on the date on which each year of the term of the contract is fulfilled, under the terms agreed by the parties. In the absence of an express agreement, no rent review shall be applied to the contracts. In the event of an express agreement between the parties on a monetary value review mechanism that does not specify the reference index or methodology, the rent will be reviewed for each year by reference to the annual variation of the Competitiveness Guarantee Index on the date of each review, taking as the reference month for the review the month corresponding to the last index published on the date of review of the contract”.

Two. Paragraph 3 of the first additional provision shall be worded as follows: “3. No rent review shall be applied to subsidized housing unless there is an explicit agreement between the parties. In the event of an express agreement between the parties on any monetary value review mechanism that does not detail the reference index or methodology, the rent will be reviewed for each year by reference to the annual variation of the Competitiveness Guarantee Index”.

Second final provision. Amendment of Law 49/2003, of November 26, 2003, on Rural Leases.

Article 13, paragraph 2 of Law 49/2003, of November 26, 2003, on Rural Leases is worded as follows: “2. The parties may establish the rent review system they deem appropriate. In the absence of an express agreement, no rent review shall be applied. In the event of an express agreement between the parties on a monetary value review mechanism that does not detail the reference index or methodology, the rent shall be updated for each year by reference to the annual variation of the Competitiveness Guarantee Index”.

Transitory Provision. Revision regime of monetary values.

4. The amendments to the text of Law 29/1994, of November 24, 1994, on Urban Leases, which are a consequence of the entry into force of this Law shall apply exclusively to contracts entered into after its entry into force.

The amendments to the text of Law 49/2003, of November 26, 2003, on rural leases, which are a consequence of the entry into force of this Law will apply exclusively to contracts entered into after its entry into force.

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