Long term rentals are defined as "Residential contracts" and are thought for tenants who intend to transfer their residency in the property rented. The main differences from the Short & Medium term contracts are the followings:
- It is signed for four years and can be renewed for another four years.
- If the landlord wishes to terminate the agreement after the initial four years the tenant needs to be informed about it 6 months in advance, while if the tenant is allowed to terminate the agreement anytime with 6 months notice.
- The property in most cases is offered unfirnished or partially furnished (only with kitchen and built-ins).
- The Rental Fee is normally lower than other types of contract, but the Reimbursable Security Deposit that the tenants have to pay to the Owner is higher, equivalent to 3 to 6 months’ rent.
- The Tenant is requested to subscribe new utilities supply contracts and be responsible for the payment of the bills in first person.
- The residential contracts normally require the Tenant to inspect physically the property and talk to agent and owner before committing to the signature, seen the long term commitment arising from the deal.
Venetian Properties operates as agent for property owners wishing to rent its property for long term through the agent intermediary. The agent represents a client interested in renting a property and acts on his behalf for the rental as outlined in the lease contract.
Booking acceptance is subject to availability of the selected apartment and payment of the Sedurity Deposit. All utilities such as electricity, gas, water, telephone/internet and garbage collection tax are to be paid on top of the Rental Fee.
The Tenant is requested to pay the Agency Fee after checking-in: the standard Agency Fee vary from 10% to 15% of the annual rent, depending on the property. When you book with Venetian Properties you agree to the booking conditions outlined here. Please ensure that you have read the booking conditions carefully to avoid any inconvenience.
When you find the right property you will be requested to sign a "Proposta di Locazione" or rental offer, legally considered as a pre-contract.
This written offer will have names and addresses of both the tenant and the landlord, the property address, a brief description of its size and the amount you offer as rent. Required date of availability is specified. Your requirements related to the property such as repairs or request for furnishings are also noted down.
The offer is accepted only if accompanied by an agreed sum of money, cheque or cash payment. The amount is written on the offer sheet along with validity of the offer, generally a week time. You are given a copy counter signed by the estate agent and the offer is submitted for approval to the landlord.
If the offer is accepted within the given time you proceed to the actual contract and the money advanced by you is retained by the owner as Guarantee Deposit. If the offer is not accepted within time you get back your money. If the landlord accepts your offer and you do not rent the property then you are liable to loose your money.
This type of contract is quite common in Italy and in most cases is composed by typical clauses, according to the Italian Civil Code (Codice Civile). The most relevant are possibly the followings:
- Duration not less than 4 years, automatically renewable for an equal period of time.
- Termination notice can be given by the owner only on legitimate grounds, (e.g. in case necessity of personal use arises or when the property requires total reconstruction). The tenant has the right to terminate the contract at any time, for valid reasons, by giving a six months notice (Disdetta).
-Obligations of the Landolord: the property must be handed over in good condition, fit for the intended use. Contracts always carry a clause whereby the tenant declares that the property fulfils this requirement. The property must be maintained in a state fit to serve the intended use. The tenant must be guaranteed peaceful use of the premises.
- Obligations of the Tenant: to maintain the property in good condition and use it for the purpose determined in the contract. To pay the due rent within the agreed time. According to Italian law the non-payment of two months rent after twenty days from prescribed time can bring to the termination of a contract. To hand back the premises at the end of the contract in the same conditions as when received, apart from deterioration due to normal use.
- Maintainance: the general criteria applied to maintenance and repairs is that the tenant is responsible for ordinary maintenance, while the landlord is responsible for extraordinary maintenance.
- Garantee Deposit: the agreed Security Deposit (normally between 3 and 6 month's rent) must be paid in advance to the owner's account and can not be used to cover rent dues unless otherwise agreed. The tenant is given back the Security Deposit at the end of the lease, unless the landlord claims payment for damages to the property caused by the tenant. The extent of such damages must be proven.
- Inventory: the inventory is a document that gives a detailed description of the premises. Controversies at the end of a lease can be avoided if the inventory is well drawn. It should list all the contents, existing faults and the number of keys given to the tenant. On approval of both parties it is counter signed and each is given a copy.
- A landlord may inspect his rented property, the periodicity and notice of visits can be defined on the contract.
- The tenant can not transform the property without written permission from the landlord. Nor can he claim reimbursement for repairs or reconstruction undertaken unless there is a prior written agreement. If the property is transformed structurally without written consent the owner can ask the tenant to restore it to its original conditions before leaving.
- Before vacating the property the tenant must allow visits for future rent or sale. How often visits can take place can be agreed upon.
- The landlord is not responsible for damages occurring within the property or to a third party e.g., theft, water and gas leakage. It is advisable to have your own House Insurance, although this is not a legal requirement.