Landlord wants 3 months deposit plus aval, is this normal?
sadly this is becoming the standard in malaga lately. for the dnv especially they see us as higher risk because they dont understand our foreign income. the three months is actually the legal limit for a deposit plus additional guarantee but the aval requirement is a massive pain. which bank did you use for the aval and how long did it take to clear. it took my friend nearly a month to set one up with caixabank.
it depends on the bank but usually you have to park that money in a frozen account. so you are basically down six months of rent cash immediately. it is a total scam but with the market in malaga right now they have ten other people waiting if you say no.
honestly just glad you got through it. malaga is a literal jungle for housing in 2024. i had a landlord ask for an entire year of rent upfront because i was on the dnv and did not have a spanish contract yet. three months plus an aval is actually a win in this market even though it feels like a robbery. hope the place is worth the headache.
i wouldn't say it's normal but it's becoming the standard for any 'luxury' or high end rental in limonar lately. the landlords there are very risk averse. did you use a relocation agent? sometimes they can talk the landlord down if they have a relationship with them. if you are doing it solo through an agency they will always push for the maximum security they can get. it's less work for them if something goes wrong.
sol rentals is okay but smaller agencies usually have more flexible landlords. the big ones like idealista listings managed by firms are the ones pulling this aval bancario move. i pay two months deposit in soho and that was pushing it. what is the actual rent price they are asking? if it's over 1500 they might be strictly following their insurance requirements. usually the insurance companies are the ones demanding the guarantee, not the landlord directly.
that is a lot of cash upfront. did the 3 months include the first months rent or is that purely the deposit and guarantee. i have seen landlords asking for crazy stuff in the center lately but if you look out towards teatinos or rincòn it can be a bit more flexible. did you manage to negotiate the aval down to a personal guarantee or did they force the bank one.
the aval bancario is a massive pain. i had one landlord ask for a six month guarantee in centro and i walked away instantly. it's not just the money being frozen, the banks here take forever to set them up and charge you quarterly fees. if you're already showing your dnv proof of income they're just being greedy or they've been burned by nomads before. i'd try to offer an extra month of deposit instead of the bank guarantee if you really love the place. it's much cleaner than dealing with bank paperwork.
honestly the extra month of deposit is actually illegal now under the new housing law. landlords are technically limited to two months total for additional guarantees. some still ask but if they're playing by the rules they won't take it. that's probably why they are pushing for the aval instead.
thanks for sharing the doc list. was the agency helpful at all with the aval process. usually they just want their fee and leave you to figure it out with the bank. i am looking in el palo right now and every single place is asking for at least two months of deposit plus some extra security if the salary is not from a spanish company. it is exhausting.
agencies in malaga are the worst part of this process. they charge the landlord now by law but they still find ways to make it hard for the tenant. if you can find a private listing you might save yourself the aval requirement.
don't do it. malaga is expensive enough without locking up 6k or 10k in a bank account for a year. my landlord in el palo only asked for one month security and one month extra guarantee. total of two months. three months plus a bank guarantee is purely predatory. they are hoping you have the cash and don't know the local market well enough to say no. keep looking and check the smaller facebook groups for direct from owner listings.
welcome to malaga 2024. the market is totally broken here. i've heard of people offering to pay six months in advance just to skip the aval bank requirement. have you tried showing them your actual bank statements from the last six months instead of just the dnv approval? sometimes seeing the actual flow of money helps them relax. also definitely ask if they will take a 'deposito adicional' instead. it is easier to get back than a bank guarantee.
actually be careful with paying in advance. it gives you zero use if the AC breaks or there's a leak. once they have the cash they have no incentive to fix anything. stick to the deposits if you can.
are you sure about there being plenty of options in malaga right now? i've been looking since february and anything decent in huelin or teatinos is gone in hours. three months plus an aval is basically them saying they don't trust foreign contracts. unless your remote company has a spanish entity they see you as a flight risk. it sucks but that is the reality for a lot of us right now.
i actually had to do an aval when i first moved to malaga. it was for a place in la malagueta and the owner was an old school guy who didn't understand the dnv at all. it costs about 1 percent every quarter and the bank freezes the funds in a separate account. it's a huge burden on your cash flow. if you can find a place where they just accept 'seguro de impago' instead you will be much better off. you pay for the insurance policy once a year and it's much cheaper.
many owners won't even accept seguro de impago for nomads because the insurance companies won't approve us without 3 years of spanish tax returns. it's a catch 22. that's why the aval is their fallback. it's the only way they feel safe.