Essential Documentation needed for Renting Apartments in Madrid
When I first moved to Spain 11 years ago, renting a flat was as simple as meeting the landlord, agreeing on basic terms of stay, paying 1 months rent + 1 months deposit in cash and receiving the keys.
Nowadays, the market is more competitive. Not only do good flats go quickly because of competition from other prospective tenants, but the landlords want to conduct profile checks to make sure that tenants are economically capable of paying their rent. It’s understandable. Landlords have more tenant options these days and they take advantage of this by spending more time analyzing tenant profiles.
Before going out on your apartment search, it is essential to have all of your documents ready to present to landlords. This will save you time in gathering all of this information in the moment you want to reserve a flat. If not, while you are sifting through paperwork, somebody else will have scooped up your dream flat and you will be left without your 1st choice option (sometimes all options if they go fast).
Always have a file with any of the following documentation ready so that you can send by email to the landlord or agent for review:
- Copy of Passport
- Copy of NIE
- Copy of your work contract showing, contract length, position and salary
- Letter from your company conveying your employment status
- Tax slips
- Bank statements
- Portfolio with lists of Assets
- Reference letters from former landlords
- Pension plan statements
- Letter from your bank agent confirming that you are economically capable to pay x amount per month
Obviously not all of the above paperwork will apply, but in our experience, the more information the better.