The program Secure RentalWhat are the requirements and how to access the aid? In a press release, the Consellería de Vivienda, Territorio y Movilidad has informed that the program Alquiler Seguro, one of the initiatives of the Government’s shock plan to increase the supply of housing at affordable prices in the Balearic Islands, starts this Monday with the aim of attracting empty homes or homes without residential use of small owners to offer them to residents at a reduced price. offer them to residents at a reduced price of 30 percent below the market price. The Official Association of Real Estate Agents of the Balearic Islands (Coapi) and the Official Association of Property Administrators of the Balearic Islands (Cafbal) will act as collaborating entities for the development and management of the program, so those interested should request information and make their queries through both associations. A web page with detailed information on the program has also been set up.
Housing requirements
- To be located in the Autonomous Community of the Balearic Islands.
- Not to be subject to limitations that prevent the lease, nor to appear with registered charges that can suppose the loss of the housing in forced execution. It will have to be accredited by means of responsible declaration or simple updated note.
- Not be a newly constructed home and be at least three years old or older.
- It has been vacant for six months or no one has been registered in the dwelling for one year.
- In the case of housing that was originally public housing, it must currently be free-priced housing.
- Water and electricity supplies must be contracted. The electrical installation must meet the requirements according to current regulations. The kitchen and bathroom must be adequately equipped with basic equipment.
- To have a valid energy efficiency certificate.
- Be in a good state of cleanliness and maintenance that allows immediate entry to the dwelling.
- In case of needing reforms of adaptation/repair of the property, the owner must carry them out before adhering to the program “Safe Rent” of the Autonomous Community of the Balearic Islands.
- The owner must have taken out a multi-risk insurance policy on the property.
- The Government will pay the homeowner a price appraised by real estate agents, which must be validated by the COAPI.
Obligations of the owners
- Be individuals or legal entities that do not have the status of large holder.
- Prove that they are the owners or usufructuaries of the dwelling.
- The property must have been owned for at least three years, and in the case of several owners, all of them must sign the lease contract.
- Assign the dwelling to the Administration for a term equivalent to that of the rental contract with the private individual and expressly allow the Administration to rent it.
- Accept the rental price offered by the Administration and the retention of three months’ rent as security for possible repairs and/or replacements to be made during the term of the contract.
- Communicate any variation that may occur in relation to the housing and that may affect its management.
- Not to have debts with the community.
- Assume the real estate tax, vehicle entry fees if applicable and community fees.
- In case of joining the program a furnished housing and/or with household goods, to assume the cost of repair or replacement when they break down. Likewise, to take charge of and assume the cost of any maintenance repairs to be carried out in the dwelling during the term of the contract and which are not attributable to the individual tenant.
Tenant requirements
- To have 5 years or more of residence in the Balearic Islands.
- Have a maximum annual income of 6.5 times the weighted IPREM (€60,667 for one tenant and €68,250 for two tenants; these amounts will be updated annually according to the IPREM update).
- As a general rule, they must not be owners or holders of a real right of use and/or enjoyment of a property on the island where they wish to rent the property.
Exceptionally, it is possible to participate in the award process:
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- If the owners of a property have lost the use of it as a consequence of a final separation, divorce or annulment judgment.
- If the ownership or the right of use and enjoyment is only over a percentage of less than 50% of the property and this has been obtained by inheritance.
- If the percentage is equal to or greater than 50%, but it is proven that the condition of the dwelling does not meet the minimum conditions of habitability established in the current regulations, provided that the deficiencies cannot be corrected with constructive solutions that do not affect the structure of the building and it is reliably proven and in the short term that financing cannot be obtained to make it habitable.
- If the percentage is equal to or greater than 50%, but it is accredited that the property is not suitable for people with reduced mobility duly accredited or a home that is not suitable for people over 65 years old. These extremes must be accredited by means of a responsible declaration of the owner and verification by the APIs.
- Not to be related up to the third degree with the owner.
- To have a guarantor.
- To use the dwelling as a habitual and permanent residence during the term of the contract.
- Occupy the dwelling within one month of signing the rental contract.
- Pay the rental price on time, the deposit (one month’s rent) and the guarantee (one month’s rent).
- To assume the costs of the services and supplies individualized by meters or the amount of the community water consumption estimate.
- Pay for minor repairs arising from ordinary use.
- To be registered in the rented housing.
- Allow visits to the home by personnel from the Autonomous Community of the Balearic Islands, through IBAVI, to inspect the condition of the home and the use to which it is being put.
- Provide the documentation that the Autonomous Community of the Balearic Islands, through the IBAVI, may require during the term of the contract to verify compliance with all the requirements of the program.
- Comply with all obligations under the lease.
- Upon completion, return the property in a good state of use and conservation, in the same condition in which it was received, except for the wear and tear caused by ordinary use.
- Pay waste fees (incinerator).
- Not to sublet or allow the residence to persons who do not appear in the contract, nor to use the dwelling for a greater number of persons than indicated in the certificate of occupancy.
How to access
If you are an owner of a property that meets the requirements and you are interested in joining the Secure Rental program, please contact the associations of real estate agents (COAPI) or of property administrators (CAFBAL).
