Valencia Security Deposit Rules: Modelo 806

Legal Framework for Security Deposits in Valencia

In the Valencian Community (Comunitat Valenciana), the management of security deposits (fianza) is governed by the national Ley de Arrendamientos Urbanos (LAU) (effective 1 January 1995) and regional administrative decrees managed by the Generalitat Valenciana. Failure to follow the regional lodgment process is an administrative offense that can lead to significant surcharges.

1. Mandatory Amount and Lodgment

Under Article 36 of the LAU, the security deposit is mandatory for all rental contracts:

• Residential Housing: 1 month's rent (Art. 36.1 LAU).
• Non-Residential (Commercial): 2 months' rent (Art. 36.1 LAU).
• Regional Obligation: In Valencia, the landlord is legally required to deposit these funds with the Generalitat Valenciana (Conselleria de Hacienda). Private holding of the deposit is a serious administrative infraction (Ley 8/2004).

2. Lodgment Deadline and Procedure

The Generalitat Valenciana enforces a strict timeline for the administrative deposit of the fianza:

• Deadline: The security deposit must be lodged within one month from the date the lease contract is signed or the tenancy begins (Art. 5.1 Decreto 46/2022, de 29 de abril).
• Administrative Forms:
  • Modelo 806: Used for manual/in-person self-assessment and deposit at collaborating banks.
  • Modelo 816: Used for the mandatory telematic (online) deposit process for most users.
• Late Deposit Surcharges (Extemporaneous Deposit): If the deposit is made after the one-month deadline without a prior administrative requirement, the following surcharges apply (Art. 22 Ley 8/2004):
  • Delay ≤ 3 months: 5% surcharge.
  • Delay 3–6 months: 10% surcharge.
  • Delay 6–12 months: 15% surcharge.
  • Delay > 12 months: 20% surcharge plus legal interest of debt.

3. Return of the Deposit

At the end of the tenancy, the landlord must return the deposit to the tenant within one month of the keys being handed over.

• Interest: If the return takes longer than 30 days, the amount begins to accrue interest at the legal rate (Art. 36.4 LAU).
• Withdrawal: To reclaim the funds from the Generalitat to return them to the tenant, the landlord must file a request for withdrawal (solicitud de devolución) once the keys have been returned.

Valencia Compliance Snapshot

Professional Advice: The Tenant's Tax Right

In Valencia, tenants are often eligible for regional income tax deductions on their rent. However, they can only claim these deductions if the landlord has successfully lodged the deposit via Modelo 806 or Modelo 816. If you fail to lodge it, your tenant may be penalized by the tax office, which often leads to the landlord being reported to the Conselleria.

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