The Leasing Law in Colombia, also known as Law 820 of 2003is a regulation that regulates the relationship between lessors and lessees in the country. In Servicio Legal we tell you more about this law, so that it can be very useful in case you want to lease or rent a place.

Fundamental aspects

Duration of contract

One of the most fundamental aspects of the Leasing Law is the duration of the contract. According to regulations, housing contracts have a minimum duration of one yearwhile commercial contracts can be made for a shorter period of time. In addition, the same law establishes that the contracts must be in writing, specifying very well the conditions of the lease, such as the value of the lease fee, the obligations of the parties and the additional clauses.

Regarding increases in lease payments, the law establishes that these may not exceed the consumer price index (CPI) plus one percentage point per year. This measure seeks to to protect tenants from excessive increases and ensure stability of payments..

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Guarantee of habitability of the dwelling

Another relevant aspect is the guarantee of housing habitability. The law states that landlords must deliver the property in a condition suitable for habitation. To this end, they must ensure that public services are operational and that there are no serious structural problems. In addition, it should be established, as an obligation, to make the necessary repairs during the lease period.

Early termination of the contract

The Leasing Law also regulates the cases of early termination of the contract. Both the lessor and the lessee have the right to possibility of terminating the contract before its expiration. This can be done as long as certain conditions are met and the established deadlines are respected. In these cases, the law establishes that at least three months’ notice must be given.Similarly, the regulations protect tenants against unjustified evictions. To do so, the lessor must have just cause and must follow established legal procedures. If this is violated, penalties and reparations may be imposed in favor of the tenant.

Legal Service helps you

Are you looking for a place to lease or do you want to lease a property but don’t know how? At Servicio Legal we help you by providing you with much more information related to the
Leasing Law
ndamientos
so you can do it without any problem.