Spanish Government scheme: Rental Assistance Program for YP

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This topic contains 10 replies, has 4 voices, and was last updated by Profile photo of Inez Inez 8 years, 6 months ago.

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  • #53531
    Profile photo of Anonymous
    Anonymous
    Participant

    Hello all,

    Have any of you heard of this scheme? Basically, as I understand it, the scheme starts in Jan 08 and if you are renting to a person/couple under of the age of 30 then you do not have to pay tax on any of the rent. If the person/couple is over 30 then you only pay 50% tax on the rent. Not only that but if you have any empty property they (the government, I believe) will rent it off you and pay you 6000 euros. For the renters the government assists them with 210 euros a month towards the rent. Please view the following link for further and more detailed information.

    http://www.alquilerjoven.es/04_INGLES/index.htm (vivenda Joven)

    http://www.spaviv.es/ (Sociedad Publica de Alquilar)

    http://www.ayudasviviendajoven.es/ (Ayudas Vivenda Joven)

    What I would like to know is if this scheme is just for city properties or for all properties (The Costas)? Is it only open to Spanish people/renters? And what are the pros and cons of this scheme.

    Thanks and wishing you all a very happy and productive new year!

  • #76774
    Profile photo of Anonymous
    Anonymous
    Participant

    I am sorry. I am skeptical of any such schemes that are touted about by the Spanish Government. The question is not of money only. What about the legal uncertainty?.

    1)This is ploy to bring in undeclared rental properties. At some stage in the not to distant future this would be reversed. (In the late 80’s/90’s the Spanish Government passed a similar act, to bring in black money/and other assets and in later years taxed it )

    2) Can you expect the Government or is servants to process your €6k. If you cannot, even get your tax refund e.g capital gains tax for months/years. In the mean time your lenders will not wait for months for you to service your loan and you will be told by the Hacienda to don’t call us until we call you. In the inter your bank will be charging you interest and perhaps you will spoil your credit history with the bank.

    3) The security of having your property being returned in good order and in under three months will still be an issue. Will the Court’ fast track your case?’

    4) The Legal quirks and the Landlords rights to possession of his/her property are bigger issues.

    5) What, will be the position, when your tenants become over 30 during your contractual period.

    I am sorry and sad to say that I don’t have confidence in the system and its workings.

  • #76776
    Profile photo of Anonymous
    Anonymous
    Participant

    http://www.alquilerjoven.es/04_INGLES/index.htm%20(vivenda%20Joven)
    I logged onto the page. The page cannot be displayed. I rest my case.

    If this act is to be inacted in a few days. You would think it would be working !!!!!!!!!!!!!!!!!!!!!!!!!!!!!.

  • #76779
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Shakeel,

    Thank you for your reply to my message. I think your questions/observations to the scheme are all very valid and I did wonder to myself if it could be a way for the spanish government to gather information on people who rent out their properties so that in the future they could tax them or even back tax them!!!

    The link does however work. I just tested it. Maybe you can google the website rather than click on the link.

  • #76790
    Profile photo of Anonymous
    Anonymous
    Participant
    lavinia wrote:
    Hi Shakeel,

    Thank you for your reply to my message. I think your questions/observations to the scheme are all very valid and I did wonder to myself if it could be a way for the spanish government to gather information on people who rent out their properties so that in the future they could tax them or even back tax them!!!

    The link does however work. I just tested it. Maybe you can google the website rather than click on the link.

    Also an election is due on March 9th 2008, rental schemes such as this look good in the papers ;another bribe by Mr Shoemaker is to pay parents 2.500 euros per baby they produce, again it looks good in the papers but the paperwork to get this money is horrendous.

    My advice beware of any goverment bearing gifts ,three months before an election.

  • #76792
    Profile photo of Anonymous
    Anonymous
    Participant

    “My advice beware of any goverment bearing gifts ,three months before an election”.

    What, about at Christmas !!!!!!!!!!!!!!!!! or on the 6th of January , The three kings can give sweets to the kids and Michael Shoemaker can dish out money to adults.

    Hey, I am emigrating to Spain, any fertile women ? please e.mail me.

    Happy new year to you.

  • #82321
    Profile photo of Anonymous
    Anonymous
    Participant

    Just wondering if anyone signed up for this scheme? Or if anyone has heard anything further about this scheme?

    Also, as it is obvious that selling right now is not a real option for most of us, unless you are giving it away, thus putting yourself in negative equity, can anyone recommend the best way to rent an apartment, i.e. an agency, website, Media, etc, etc? Like most, I am really struggling to find tenants or even an agency that does not require that I pay them 400 – 500 euros to find me a tenant with ONLY one months deposit as securtity that the tenants will 1. pay the rent, and 2. not destroy my apartment. Can anyone help/advise? My (legal) apartment is a fully and beautiful furnitured standard two bedroom, one bathroom with a fabulous and very large terrace, situated in Villamartin, Costa Blanca with great views to the sea and five minutes away from both Villamartin and Campoamor golf courses.

    Thank you and have a great weekend!

  • #82324
    Profile photo of Anonymous
    Anonymous
    Participant

    All, I know is the landlords have increased the rent by the €200.

  • #82370
    Profile photo of Inez
    Inez
    Participant

    I looked into this when it first came out and the paperwork is horrendous! The agent in the fist place has to be totally approved, not just legal but the applivation forms were something else, so I gave up on it!

  • #82372
    Profile photo of Anonymous
    Anonymous
    Participant

    Inez,

    Wouldn’t the owner and the tenants have to fill out this paperwork, as it is the tenants recieve the funding the and the owners the tax rebate?

    Also, I would have thought it would be a good incentive for (young) people to rent, no?

    From your response I assume your company deals with rentals? If so, in which area?

    Thanks

  • #82380
    Profile photo of Inez
    Inez
    Participant

    I didnt get that far to be honest. Last year I asked my secretary to look at it and I would have to get some kind of registration in order to offer it to my owners!

    I did have a rental company covering the costa del Sol – I still deal with few rentals and I sold the business to a lady who is doing ok with it. Let me know if you want to pm the detils to you and you can contact her direct – holiday and long term rentals. She said after a quiet start its picking up – I know she has been advertising and needs more units in Elviria and Banus!

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