You have decided to move to Valencia and you have started looking for an accommodation. You will then quickly realize that it is a real headache to find a flat for new expats. Let’s see what are the main characteristics of the rental market in Valencia.
1. Very strong rental demand
The rental market has changed so much in recent years that properties with a good quality-price ratio are booked extremely quickly, in a few hours at most. It is then necessary to show great reactivity to identify the best properties and obtain a visit.
The most sought-after properties in the city of Valencia are those with a balcony or terrace, recently renovated and located near the city center or the Turia Gardens.
The strong demand has led to an increase in the price of rents and it is now difficult to find a decent accommodation for less than 700 euros. To the price of the rent, it is also usually necessary to add the bills for water, electricity and other wifi. Note that building fees are normally paid by the owner. For more information on the different costs, you can consult our Guide to Renting in Spain.
2. Insurance against non-payment
As we have just seen, rental demand is such that landlords can easily select their future tenants. Most of the time, they want to get an insurance against unpaid rents and will choose tenants who meet the following conditions:
- Have a permanent Spanish employment contract
- Have at least three Spanish payslips
- For autónomos, the latest tax declarations
So for expats arriving in Valencia, it is impossible to already have these documents and except a few specific cases, the application will not be accepted.
To override this insurance, the landlord may ask you to pay certain months’ rent in advance (up to 1 year’s rent).
3. Have your NIE and a bank account in Spain
In order to be able to sign the rental contract and for the owner to deposit the deposit with the Generalitat Valenciana, it is essential to have the NIE (Guide to get the NIE). This document allows the Spanish administration to identify you for all your procedures in this country. Whether you apply for it in Spain or at the Spanish consulate, it is recommended to apply for it in advance due to delays.
Finally, it will also be necessary to open a bank account in Spain before your installation.
4. The language
Like any country in which you do not master the language, it is recommended to be accompanied both during the viewings and for the revision of the rental contract. This helps to avoid unpleasant surprises.
Note that any specific condition must be written in the contract, otherwise you will not be protected in the event of a dispute.
5. Rent your new home remotely
As we have just seen, renting a property in Valencia can be complicated due to the current low offer and high demand on the market. This is why we propose to carry out all the procedures remotely to save time: video viewings with debriefing of the positive and negative points of each flat, building of your application and signing of the contract.
When you arrive in Valencia, you will be given the keys and all you have to do is settle in 🙂
6. Get help from Vivre à Valencia
At Vivre à Valencia, we offer you complete support when looking for your new home in Valencia. It starts with the definition of the home specifications and the study of its feasibility. We accompany you then until the signature of the rental contract (and more if necessary) and will be your only interlocutor. Our objective is to facilitate your relocation.
Do not hesitate to contact us for more information on our services.