Laws on letting and hiring of immovable property are regulated under the Civil Code. A lease is a temporary title granted by the lessor which may be the owner or another lessee if the lease agreement allows a sub-lease and another person who will lease the property. A lease generally grants a title to use the property with significant limitations on any alterations that the lessee is able to perform on the property during this term. Any such modifications usually would need the approval of the lessor and would be lost on termination of the lease. In the past the lease market was very restricted in favor of the tenant in residential leases, however this has changed and one can say that, with the exception of old residential leases, the letting market has been liberalised.
A person can generally enter into a contract of lease with any landlord of an immovable property for a set period of time against the payment of the rent and subject to any requirements imposed by the lease agreement. Such obligations would generally include general maintenance to the property, a deposit of sorts, obligations to not cause disturbance to third parties and to use the leased premises in line with the law.
A lease can be either residential or commercial and with the current market, entering into a good lease hinges on obtaining proper advise before entering into such a commitment. Such will relate to:
- The term of the lease and here one must make sure he understands the implications of the ‘di fermo’ and the ‘di rispetto’ rent periods;
- The rent payable and when;
- Any deposits;
- Responsibility of maintenance;
- Any guarantees on the payment of the rent;
- General obligations such a sound limitations or signage;
- Insurance requirements, especially in commercial leases;
- Utility Bills;
- Verification in relation to permits;
Our experienced legal team can assist you in drafting and negotiating your lease agreement and also providing advice on the workings of the law in relation to the letting sector.