As a tenant, signing a tenancy agreement is an important step in securing a place to call home. However, not all tenancy agreements are created equal. If you`re looking for a tenancy agreement in Portugal, you may come across the term “IMI” and wonder what it means.
IMI, or Imposto Municipal sobre Imóveis, is a municipal property tax in Portugal. It is a tax levied on the ownership of properties, and it is usually the responsibility of the property owner to pay it. However, in some cases, the tenant may be required to pay a portion of the IMI tax as part of their tenancy agreement.
When signing a tenancy agreement in Portugal, it`s important to understand whether or not you`ll be responsible for paying any portion of the IMI tax. This should be clearly stated in the agreement, along with the specific amount you`ll be expected to pay.
In addition to understanding the financial responsibilities of the IMI tax, it`s also important to carefully review the rest of the tenancy agreement. Make sure you understand the terms related to rent payments, security deposits, and any other fees or charges that may be included.
Here are ten key things to look for in a tenancy agreement:
1. The length of the tenancy agreement – Make sure you know how long you`ll be living in the property before signing the agreement.
2. The amount of rent – Review the amount of rent and any increases that may occur during the tenancy.
3. The security deposit – Make sure you understand how much you`ll need to pay as a security deposit and how and when it will be returned to you.
4. The payment schedule – Review the payment schedule for rent and any other fees or charges that may be included.
5. The IMI tax – Check whether or not you`re responsible for paying any portion of the IMI tax.
6. The termination clause – Make sure you understand how the tenancy can be terminated and what notice is required.
7. The subletting clause – If you`re interested in subletting the property, review the subletting clause to make sure it is allowed.
8. The maintenance responsibilities – Review the maintenance responsibilities for the property, including who is responsible for repairs.
9. The utilities – Make sure you understand which utilities are included in the rent and which you`ll be responsible for paying.
10. The inventory – Review the inventory of the property to ensure it is accurate and complete.
By carefully reviewing and understanding your tenancy agreement, you can avoid any unpleasant surprises during your tenancy and ensure a smooth and comfortable living experience. Remember to pay close attention to the IMI tax and your financial responsibilities related to it. With these tips in mind, you`ll be well-prepared to sign a tenancy agreement in Portugal.