Madrid is committed to improving access to affordable housing. With the ReViVa program, the capital’s City Council – through the Municipal Housing and Land Company (EMVS) – will finance renovations in empty homes for free integrate them into the rental market at affordable prices. Thus, owners will be able to receive up to 45,000 euros at zero interest to renovate their homes, a loan that will be recovered little by little, deducting it from the monthly income they receive for the rental.
To do this, the owners transfer their home in usufruct to EMVS Madrid for a certain period of time, “with all the guarantees and collecting the agreed rent, whether the property is rented or not,” as explained by the City Council in a statement this Wednesday.
The program also carries out “comprehensive management” that includes all administrative and legal proceduresallowing the owner to “not worry” about the procedures from the moment he signs the transfer. Thus, EMVS Madrid takes care of the expenses of the community of owners, home insurance, ordinary repairs and IBI. In addition, all expenses related to the transfer, both the capital gain and the registration in the Property Registry,
What are the program requirements?
The home must be transferred in usufruct to the municipal company a minimum of five years and the number of apartments that each interested party can offer is limited to five, although this limit does not apply if the properties provided are for tourist use. For their part, tenants must have a weighted income of between 3 and 5.5 times the IPREM, and will benefit from prices between 15 and 20% below the market, without ever paying more than 30% of their salary. in the rent.
Furthermore, from the EMVS Madrid Help will be offered to pay rent for housing. to those under 35 years of age, over 65 years of age, people with disabilities equal to or greater than 33%, families with economically dependent children under 25 years of age, families with economically dependent children in their care – whatever their age – with a degree of disability equal to or greater than 33% and separated or divorced people with children who prove this circumstance through notarial certificates or sentences issued in separation or divorce proceedings.
The maximum amount of aid for the payment of housing rent, 900 euros, will be granted if two of the following circumstances are met special: large families, single-parent families, people with a disability equal to or greater than 65%, families with dependents in their charge of degree III dependency, victims of terrorism or accredited victims of gender violence or violence within the couple or ex-partner
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