Understanding State Landlord and Tenant law in Morocco

The State Landlord and Tenant law in Morocco favours those renting out property. This makes Morocco a stable and safe investment destination for international investors. Morocco is an exotic North African country. Most people who visit it on holiday are charmed by its landscape and people. Even if they do not intend to get involved in business, several tourists like to buy a ‘holiday home’ of sorts in Morocco. Such properties too can make great rental profits.

Rent limits
State Landlord and Tenant law in Morocco lets the landlord decide the rent after negotiating it with the tenant. In such cases, it is best to take help from a notary who can also translate the local language. Additionally, a local notary will be able to help you fix the rate in accordance with the current market rate in the area of your property. Since occupancy rates are very high during peak season making Morocco an ideal location for creating rental property, some landlords also like to draw up a contract specifying different rates for different seasons and a maximum limit a tenant may stay at their property.

Security deposit
State Landlord and Tenant law in Morocco also allows the landlord to ask the tenant for a deposit that will be used as a security amount. This amount is to be returned when the tenant vacates the property. In most cases, landlords can take a security deposit of up to two months’ rent. A landlord can also demand that the tenant register a guarantor with the landlord. This guarantor is responsible for paying damages and rent in case the tenant defaults on payment. Damages may be deducted from the security deposit if required.

Tax help
State Landlord and Tenant law in Morocco gives property owners all kinds of tax benefits including waiver on Property tax, Garbage Collection tax, Capital Gains tax etc. A notary will be able to tell you the exact duration and options to avail these benefits.

State Landlord and Tenant law in Morocco also requires registration of property and payment only in local currency. For this reason, international investors need to open an account with a bank in Morocco itself. Funds can be transferred to this account from abroad as well.

Key areas
State Landlord and Tenant law in Morocco aside, international investors can also make profits in the real estate market by investing in key areas. Morocco offers two main development areas on the Mediterranean and the Atlantic coasts.

Early development stage
The Moroccan Government is also keenly promoting infrastructural development and tourism in the country. Short-term investments in property with the idea to make big capital gains are a good strategy for those heading to Morocco. The Moroccan Government has unveiled an ambitious plan to build six resorts. There will be a construction embargo for 15 years in project areas after construction is complete. Rental value is likely to shoot up in these areas.

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