Rent Guarantee “Garantía de Alquiler”

The "Plan Nacional de Alquiler Garantizado" (PNAG) - the national plan for warranted tenancies - was created to safe and activate renting. This plan is an union of applied sanctions, which are saved by law decision 60/2003 and which are based on the commendation No.12/86 of the European Minister Commission of the EU to exonerate the courts of tenancy law clashes.

With law decision „60/2003 23 de diciembre de 2003 B.O.E. 309/26-2004“ it was created a new judicature.

PNAG regulates by an arbitration (Corte de Arbitraje) Instead a governmantel appointed arbitrator intervenes. He speakes out a judicial binding mediation. Dissension shall be soluted rapid and uncomplicated.

Instead a governmantel appointed arbitrator intervenes. He speakes out a judicial binding mediation. Dissension shall be soluted rapid and uncomplicated.

The Mallorca Mietbörse S.L.as an accredited issuing office of the “Garantía de Alquiler”, advices every landlord to conclude this policy.

The “Garantía de Alquiler” works at the following cases:

• Non-payment of the monthly rental, as well es the rental update und the renewal of the bank guarantee
• Non-payment of the additional costs
• Non-payment for damages of the estate and the inventory
• Construction work without agreement of the owner
• Assignation of the rental agreement in a case of illegitimate subleasing.

Furthermore the “Garantia de Alquiler” takes care that the real estate will he given back to the landlord when the tenant breaks the contract.

This are the advantages of the “Garantia de Alquiler” at a glance:

• Rapidity: Your matter will be closed inside of three months. Without the “Garantía de Alquiler” you have to calculate with into 6-12 month until the matter will be closed.
• Effectiveness: At the latest of 45 days there will be effected an arbitration with the same impacts like a judicial decision. The conducting and the implementation of the judicial decision is binding. By not implementation the local court (Juzgado de Primera Instancia) will be called by the PNAG.
• economic: An advocate and a trial agent is not necessary. At ending of the “Garantía de Alquiler” you have to pay an one-time charge of 72 Euros. This charge includes also possible assault contract extensions. By access in an arbritration you have only to pay 90 Euros as charge and approx. 55 Euros as arrangement fee. The loosing part has to pay this costs.
• Simpliness: Every operation is clear and simply structured. Everybody can follow and understand the operation. Furthermore, every step will be recorded in written form. It don’t exist a compulsory attendance of the parties.

You can find more information about the "Garantía de Alquiler" directly here www.pnag.es