RENTING EFFORTLESSLY IN BARCELONA
Renting an apartment in Barcelona effortlessly: What should you know and how to prepare in advance. There are a couple of things that people tend to forget about in all the rush and excitement of the big move. We know that there is a lot of planning involved, so here is some help from us to save you some trouble once you are here and you start apartment-hunting (link on flat hunting to the service page). We firmly believe that if you are well-prepared and well-informed, you will greatly reduce the amount of stress once you´re in Barcelona.
HOW TO PREPARE:
When renting a property in Barcelona, you are usually required to pay 4 months’ rent at once:
This consists of:
- 1 month´s rent as agency fee or 10% of one year’s rent plus VAT (21%)
- 2 months safety deposit
- 1 month in advance for the rent
As an example, for a property with monthly rent of 1000 Euros, you will need at least 4200 Euros prepared
Especially for those coming from countries that don´t use the Euro it is essential to have this amount prepared. Why? Because the rental market is competitive and properties are renting very fast. If you can’t show seriousness right from the start you immediately lose credibility, and most likely that apartment you fell in love with!
Agencies usually require a “reserve” once you confirmed that you want the flat. This is usually one month of rent that is deducted from the agency fee later. Once you leave the reserve, it takes 1-2 days for them to approve you, followed by the signing of the contract.
At the signing, they expect to see the balance of the fee, already arrived in their bank account or at least proof of transfer. In some cases bringing the money in cash is an option, but as there is a restriction on the amount that can be paid in cash, this is an option only for a lower priced properties. Either way, you have to show proof that you have paid the money and if you don’t have them transferred the signing won’t happen.
So be prepared. Exchanging US Dollars to Euros is expensive here and can also be quite time-consuming. It is better to have it all planned in advance. Make sure you have it all figured it out before you start with the property-finding process.
It is also recommendable for you to have a Spanish bank account set up before the signing.
A few good tips are:
- Open a bank account immediately when you get here. Non-resident accounts are an option before you get the NIE and can be changed to “resident” once you obtain your NIE.
- Start your NIE process before you come here. You can plan ahead and at least get an appointment for the NIE office. Most real estate agencies have been accepting passports recently, but it is always an advantage to have the NIE or at least NIE appointment on your name.
- Transfer money to your local bank account as soon as possible. A very good and cheap option to do this is Transferwise.
- Have documents proving financial stability. Obviously not everybody comes to Barcelona to work or has a job found beforehand, but think of what you can present to show that you are financially covered and how you will pay your rent. Things like bank statements can work in some cases for example. Keep in mind that some agencies/owners will not take anyone without local payslip (nómina). So asking in advance what they require, before even seeing a potential apartment, can save you time and disappointment.