How it works

NIE: the foreigner's identity number

The NIE (Número de Identidad de Extranjero) is a personal number without which almost nothing can be done in Spain. You need it to open a bank account, sign a long-term tenancy agreement, buy property, take out insurance or apply for a residence permit.

The number is assigned once and for life, but the certificate confirming it can carry an expiry date and sometimes has to be obtained again. The NIE is issued by the immigration police in Spain or by a Spanish consulate before you move; the longest part is usually not the application itself but the wait for an available appointment.

• Deal with the NIE before the transaction, not after: the bank and the notary will ask for it straight away.
• Owners letting a property almost always ask for an NIE, although some agreements are signed with a passport alone.
• Appointments are booked online, and available slots appear irregularly.

Fianza: the tenancy deposit

The fianza is the compulsory deposit paid when a tenancy agreement is signed. Under the Spanish urban tenancy law it is one month's rent for residential property and two months' for non-residential. The fianza is not credited against the final months of rent: the owner must lodge it with the regional housing authority and return it after the agreement ends, less any proven damage.

On top of the fianza, the owner may ask for an extra guarantee (garantía adicional). For long-term agreements it is capped at two monthly payments, and in practice that limit is what is usually applied.

• The fianza is refundable; the holding payment that reserves a property is not - it is credited against the first payment under the agreement.
• By law the deposit is returned within one month of the keys being handed back.
• Set out the amount of the fianza and the refund details in the agreement as a separate clause.

Aval: proof that you can pay

The aval is a guarantee that you will be able to pay. A Spanish owner will almost always ask you to prove your income: a permanent employment contract, payslips for the last few months, a tax return, a bank statement. Someone who has just moved to Spain and has no local contract has none of these, so owners ask for a bank aval instead - a sum frozen in your account that the bank guarantees to the owner.

The usual requirement in Valencia is three to six months' rent; the exact figure depends on the owner and on the agency representing the property. Sometimes the aval is replaced by several months of rent paid in advance, by a guarantor with Spanish income, or by rent-default insurance taken out by the owner.

• The aval is not a requirement of the law but a term of the deal: it is open to negotiation.
• The frozen money stays yours and is released once the agreement ends.
• Three to six months is common practice, not a rule: some properties are offered with no aval at all.

Agency fees

For residential lettings, current law puts the agency's costs on the owner: the fee for finding a tenant cannot be passed to the tenant. On properties handled by the owner's agency, the tenant pays only the rent, the fianza and the guarantee.

On a purchase, the agency's fee is traditionally a percentage of the price and is normally built into the selling side's commission. Services outside the transaction itself are paid for separately: residency support, insurance, opening a bank account, finding a school. We quote those prices in advance, before any work begins.

• Alongside the fee, budget for taxes and notary costs when buying.
• For a tenant the unavoidable costs at the start are the first month, the fianza and the guarantee.
• Ask for a document for every sum you pay: a contract, an invoice or a receipt.

Timescales

Finding a rental in Valencia takes anything from a few days to a month. In summer and at the start of the school year good properties go within a day; in winter the market is calmer. There is one rule: a suitable property is reserved on the day of the viewing, so it is best to have the documents ready in advance.

It is usually a few days from the reservation to the signing, and the keys are handed over on the day of signing or on the agreed move-in date. Buying takes longer: one to three months normally pass between reserving a property and signing at the notary, and if the buyer is taking a mortgage the bank sets the pace.

• Renting: viewings within one to three days, the agreement within a week of the reservation.
• Buying: reservation, deposit contract, then the notary - usually one to three months.
• These are typical Valencia timescales, not a promise: it is the individual owner who decides.

The process: renting

The sequence barely changes from one property to the next.

1. 1Enquiry: budget, district, dates, who is moving, pets, furniture requirements.
2. 2Shortlist: we send properties with the price, the terms and the documents the owner asks for.
3. 3Viewings - in person, or by video if you are not in Spain yet.
4. 4Reservation: the holding payment secures the property and counts towards the first payment.
5. 5Contract check: term, indexation, who pays the community fees and the IBI tax, termination terms.
6. 6Signing and handover: an inventory of the condition of the property and the meter readings.
7. 7After moving in: transferring the utility contracts and registering at the new address.

The process: buying

Buying takes longer than renting - two extra checks, legal and financial.

1. 1Choosing and checking the property: land registry extract (nota simple), charges, debts to the community, floor area matching the cadastre.
2. 2Making an offer and reserving the property.
3. 3Deposit contract (contrato de arras): it fixes the price, the deadline for going to the notary and the liability of each side.
4. 4Money and documents: NIE, a Spanish bank account and, where needed, mortgage approval.
5. 5Signing the deed before the notary (escritura pública) and handing over the keys.
6. 6After the deal: registering ownership, paying the taxes, transferring the utility contracts.

What we take care of

We work on the side of the client and never push a property: our job is to make sure you are not moving again a year from now. The catalogue on this site is built from our own Telegram channel and updates automatically, so it reflects the real market rather than a curated shop window.

• Selecting properties for your situation and checking the owner's terms before a viewing.
• Viewings, including by video while you are still outside Spain.
• Negotiating the price, the aval and the move-in dates.
• Going through the contract and explaining every clause before you sign.
• Support at the signing: with the owner when renting, at the notary when buying.
• Everything around the move: residency, Sanitas insurance, a bank account, schools and courses, town hall registration.