The plan, which will be launched in the autumn, will entail small owners offering properties on a voluntary basis with the guarantee of all the rent being paid and the properties being returned in the same good condition as they were when first made available. The government will pay owners the difference between what tenants pay and the market prices.
Tenant applicants will need to have been legally resident in the Balearics for a minimum of five years and be able to show that they have the means to pay the rent. The rented property will have to be the tenant's habitual and permanent home; it cannot be used for another purpose, e.g. holiday rental.
The property will have to have been empty for at least six months. The scheme is expressly aimed at small owners and excludes large owners, normally as taken as being ten or more properties; banks and investment funds are typically among these large owners.
On Wednesday, the housing minister, Marta Vidal, said: "The objective is to lower the general price by putting more supply on the market." The market price, she explained, will be controlled so that there are no abuses.
The government is opposed to the Spanish law that allows rent caps, Vidal insisting that tension in the rental market is caused by setting price limits.
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All they are doing is trying to appease the protestors. When noting happens, as it won't, the protestors will be out in full force again. How come they never try to build housing with low rents, I assume that's too difficult to really make a difference.
Never going to happen, nothing ever does.
Subsidised rent (by the Council) isn't a new idea. The UK has tried and failed with this scheme. There are many reasons it failed but in Mallorca it will fail for two reasons which are a) tenants who know the system will squat and the current law protects them from eviction and b) it's open to fraud since who will determine the market rate that the subsidy is going to be based on? Maybe something is better than nothing but if the Council had done their research they'd realise that this initiative is doomed to fail.
Damn! I'm 104kgs and 6ft 4"!!!! Guess that means i dont qualify as a "small" owner!! Better start that diet!!!! 🤣😂🤪 Sounds good in principle, but we all know they'll make a complete hash of it, if it happens at all! Meanwhile.... Back to that G&T! ;)
A couple of questions , Where dose the rent money go ? What type of super Duper new garentees are they going to invent that the rent gets paid I’ve been trying to get something like that forever here , there are a lot of communists around here , who is going to control the places that they are kept in good order ? Soory but this is Bullshit !