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VAP - Real Estate | Algarve Properties

When proceeding to a property lease/rent, for legal and tax issues, and also to safeguard both parties - the tenant and the owner - is required to sign a Rent Contract.

The contract must be written on three copies, one for the landlord/owner, one for the tenant/lessee and the third should be delivered in the Finance division until the end of the month after having been signed are required to be sealed (the Sealed payment is an owner responsibility). The contract must be signed by all parts (including the guarantor, if applicable).

According to the Decree-Law No. 160/2006, in any Lease Agreement must be included these elements:

  • Identification of all parts (including naturalness, date of birth and marital status)
  • Rent property identification and location (full address)
  • The residential or non-residential end of the contract - when it comes to a contract for non-permanent housing, it is necessary to indicate the reason of transience
  • License to Use, the number, date and issuer or reference entity - document issued by the City Council of the municipality to which housing belongs, which proves that the house meets the necessary conditions for habitability
  • Discriminated amount of rent, additional charges (or not it excludes any use as water, electricity, gas) and method of payment (pay check, NIB to bank transfer, or cash)
  • Conclusion date
  • Possible contractual clauses
  • Attachment with an inventory of the property of the filling (optional)

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