Young rent subsidy: Everything you need to know
January 27, 2022
However, despite this trend, young people are the ones who have it more complicated when it comes to renting: many requirements from landlords and increasingly higher prices. 6 out of 10 young people have looked for a house, but have not found one because they could not find a property within their budget.
The real estate sector is closely linked to supply and demand. Currently, a situation of saturation of rental apartments has been reached. In other words, there is more demand than supply.
To remedy this situation, and to allow young people between 18 and 35 years old to become independent more easily, a new aid for the rental of apartments has been opened. This aid has already been approved by the Council of Ministers and consists of a payment of 250 € to applicants.
What are the requirements to apply for this youth bonus?
- Prove that you live in a rental apartment and appear in the contract.
- Be between 18 and 35 years old.
- Have an employment contract that does not exceed 24,318.84 euros per year.
- The housing cannot exceed the rental price of 600€ (or up to 900€, depending on each autonomous community).
- It is not compatible with other similar subsidies.
- Residence in Spain.
- If you are renting a room, and not a single apartment, you can also apply for it. The room must be between 350 and 450€ per month.
How does this bonus work?
The young rent subsidy will consist of a subsidy of 250€/month for a period of two years (6,000€ in total) to pay the rent as long as it is a maximum of 600€ (or up to 900€ depending on the autonomous community).
The aid will be applied to each young person and not to each dwelling, that is to say, each of the tenants will be able to apply for this aid as long as he/she meets the requirements to obtain the subsidy.
It is estimated that between 40,000 and 50,000 young people will be able to benefit.
Who is not eligible for the youth rental bonus?
Apart from people who do not meet the above-mentioned requirements, homeowners or those who live in apartments owned by close relatives will not be eligible for the youth bonus.
In addition, the aid may never exceed the price paid for rent and must always be for the applicant’s habitual residence.
When and how can I apply for the young rent subsidy?
The decree contemplates the right to the aid retroactively, from January 1 of this year. However, as of this Tuesday, it will still be weeks, and even months, before it can be applied for.
It will be possible to request it through the offices of the housing department of the autonomous communities, both in person and telematically.
If you still do not have a rental apartment but you are looking for one, Espígul will help you find the ideal apartment. If you have already found it, we leave you with some tips in this post to turn your rental apartment into a home.
At Espígul Real Estate we have more than 30 years of experience in the management of rental properties. If you want to find an apartment for rent according to your needs in Girona or nearby or you own an apartment and you want to rent it, you can contact us at hola@espigul.com or call us at 972 220 110.
