Madrid Security Deposit Rules: Agencia de Vivienda Social

Legal Framework for Security Deposits in Madrid

In the Community of Madrid, the management of security deposits (fianza) is governed by the national Ley de Arrendamientos Urbanos (LAU) and the regional Decree 31/2023. In Madrid, the landlord is strictly prohibited from holding the security deposit in a private bank account for the duration of the lease.

1. Mandatory Amount and Purpose

Under Article 36 of the LAU, the deposit is a mandatory requirement for all rental agreements:

• Residential Leases: 1 month's rent.
• Non-Residential (Commercial): 2 months' rent.
• Purpose: It serves exclusively as a guarantee for the fulfillment of the tenant's contractual obligations and the repair of damage beyond normal wear and tear.

2. Mandatory Lodgment with the Agencia de Vivienda Social

In Madrid, the landlord must deposit the fianza with the Agencia de Vivienda Social (formerly known as IVIMA).

• The 30-Day Deadline: You must lodge the deposit within 30 calendar days from the date the lease agreement is signed.
• Procedure: The process is done through the official portal of the Community of Madrid. Once deposited, the landlord receives a "Resguardo de Depósito" (Deposit Receipt).
• Penalties: Missing the 30-day window results in an automatic surcharge of 2% to 5% of the deposit amount if paid voluntarily, or significantly higher fines (up to 50% of the deposit) if discovered during an inspection.

3. Return of the Deposit

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

• Interest: If the return is delayed beyond 30 days, the amount accrues interest at the legal rate (Art. 36.4 LAU).
• Reclaiming from IVIMA: To return the funds, the landlord must first request the refund from the Agencia de Vivienda Social by providing proof that the tenancy has ended and all obligations have been settled.

Madrid Compliance Snapshot

Professional Advice: The Tenant's Rental Deduction

Landlords should be aware that tenants in Madrid can often claim a regional tax credit for their rent payments. However, the tax office (Hacienda) will only grant this credit if the landlord has successfully lodged the deposit with IVIMA. Failure to lodge the deposit is one of the most frequent causes of tenant-landlord disputes in Madrid courts.

How Landager Helps

Landager's "Madrid Compliance Module" automates the IVIMA lodgment tracking. Our system flags the 30-day deadline the moment you sign a new lease and provides a direct link to the Madrid fianza portal. We store your IVIMA receipt in your property's permanent record, ensuring you and your tenant are both protected during the annual tax filing season.

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