If you are renting a property in Madrid or if you plan to do so, you should know this: depositing the rental deposit with the corresponding body is very important, it will avoid many problems, but what is the IVIMA? Because it is important? How can I deposit the deposit? What papers do I need? As good real estate advisors, we want to help you and clarify all your doubts.
What is the Social Housing Agency of the Community of Madrid (Called IVIMA)?
Each autonomous community of Spain has an official body where the deposit of the lease contracts is deposited and in Madrid it is the Social Housing Agency of the Community of Madrid (formerly known as the IVIMA, the Housing Institute of the Community of Madrid ).
Since 2020 it is no longer called the IVIMA but the official name is the Social Housing Agency of the Community of Madrid.
Why is so important?
The deposit of the rental deposit is mandatory for the landlord and must be done within a period of 30 days from the signing of the lease, which is the one indicated by law.
Lessors of urban real estate (both for residential use and for non-residential use) have the obligation to deposit the deposits determined by article 36 of the Urban Leasing Law in Spain (one month for housing and two months for use contracts). other than housing).
As the owner, you can have this money when the rental period has ended, in case you have to cover unpaid rent, carry out repairs that correspond to the tenant, or when you have not respected any point of the contract.
How you can pay it?
It’s very simple. We recommend you do everything online as you will save time and money, you can do this from the official IVIMA website.
Remember that you must have the lease contract, the cadastral reference and all the data of those involved in the contract at hand. Here are the steps:
- We enter the page of the community of Madrid, in the section of the Leasing Bonds or “Fianzas de Arrendamiento”. From our experience it is better to do it through the Google Chrome browser.
- We go down a little, we arrive and we stop until where it says Deposit.
- We click on “Onile Formulary or “Formulario Online” we continue to the link “Modelos 251: Depósito de Fianzas”.
- We fill in the form. It is important to add all the LANDLORDS and TENANTS that exist. It is mandatory to place the cadastral reference of the property, if you do not have it, you can obtain it from the Cadastre. If we failed to fill in any data, the system itself will notify us so that we can correct it. Then it will ask us to verify that we are human, the typical Captcha.
- When making the payment you can do it with some banks (Santander, Banco Popular, Sabadell, BBVA or Bankia). If you do not have an account with these, you can do so with a credit or debit card.
- At the end of the deposit payment process, it will be very important to file the deposit receipt, since we will need it when the lease ends and we need to request the return of the deposit.
What happens if it is not deposited in the IVIMA?
The term to deposit the deposit is one month from the conclusion of the lease. If this period is exceeded, there will be a surcharge of 2% of the amount of the deposit, and if one year is exceeded, the surcharge will be 5%.
Not posting the bail is considered a serious infraction, which results in the application of a series of sanctions by the Community of Madrid, such as a surcharge that ranges between 26% and 50% of the amount of the bail, up to a maximum of 90,000 euros.
Remember that the relationship between the owner and the tenant can go through various problems, so it is important to comply with the points in the contract to maintain a good relationship between both parties. If you do not want to deal with procedures, non-payments or problems that may arise during the lease of your properties, we invite you to discover our Comprehensive Rental Management Service in Madrid. Our services are focused on helping because we know how important a home is and how valuable it is. We also perform this service for commercial premises and offices.