7 out of every 10 landlords fear their tenants will fall behind with the rent due to the economic crisis
7 out of every 10 landlords fear their tenants will fall behind with the rent due to the economic crisis. This is one of the greatest risks when renting properties in Spain.
Apartment rental in Valencia (Mislata): Open doors on November 4, 5 and 6
Apartment rental in Valencia (Mislata). On November 4, 5 and 6, 2011 an Open Doors Day will be held in the residential development located opposite Parque de Cabecera. For 3 days, the sales representatives of CASSANA - ESPECIALISTAS EN ALQUILER will be available to show apartments to anyone who is interested in renting a property within the building.
The Valencian Community pulls subsidies for rentals
The Government of the Valencian Community has withdrawn financial support for apartment rentals. It announced the decision in a May 18, 2011 order published in the Official Bulletin of the Valencian Community on May 26, 2011. Recipients of financial aid to meet rental expenses will have their assistance cut shortly.
OECD Aims to Promote Renting in Spain
The OECD says the rental housing market in Spain needs to be encouraged. The organization claimed the rental market required support given the high inflation provoked by the buying and selling of property in the last few years.
75 Percent of New Yorkers Prefer to Rent Rather than Own
In the economic capital of the United States, 75 percent, a large majority, prefer to rent rather than own an apartment. This isn't anything new for the city of skyscrapers whose extremely high costs have forced most to rent for a long time.
Ministry Requests 8,000 individuals return housing assistance
Persons who in 2009 received assistance for housing but earned more than 22,000 euros in the year are being asked to return 210 euros of rental assistance per month the Ministry of Housing offered them. The ministry says that surpassing this level of income is automatic grounds for demanding the return.
Average Apartment Rental Rises 0.6 Percent in the Region of Valencia
The average cost of rent for an apartment in the Region of Valencia rose 0.6 percent more in May 2010 than in May 2009.
Apartment Rentals Taking Off in the Valencian Community
Apartment rentals are soaring in the Valencian Community. The latest government data shows a clear upward trend in rentals with a total 9 percent of available properties being rented in the Community in 2007 rising to 32 percent in 2009
Crisis in Real Estate Increases Supply and Demand for Rental Units
The crisis in real estate has given a boost to the rental market. Though suspected for a long time, it is now confirmed. The crisis in the real-estate sector has significantly boosted the rental market in the last two years.
Law on Rental Apartment Promotion published in BOE
Law 19/2009, a law that aims to reform a series of laws on the promotion and acceleration of apartment rental procedures, was passed by the government and published in the Official Bulletin of the State on November 24, 2009.
Basic Housing Design and Quality Requirements
On October 7, 2009, the Official Bulletin of the Region of Valencia published a decree approving basic design and quality requirements for rental and housing properties.
The Valencian Consell plans to extend Rental Assistance
According to Levante-EMV, the Valencian Consell plans to extend rental assistance once aid from the national government ends. The assistance could amount to as much as 5,000 subsidies a year and benefit a total 20,000 families.
Assistance for young tenants to vary according to location
According to Levante-EMV, the Valencian Generalitat has begun to give annual economic support to tenants paying down rental fees for single properties
Legal changes to promote renting
The government has sent the Spanish Courts modifications to three laws in order to encourage the rental market and improve the energy efficiency of buildings
63,000 Youth Receiving Rental Assistance
The number of rental units for youth leaving their families for the first time is now 63,166, after an increase of 41.58 percent in the number of recipients receiving rental subsidies in the fourth quarter of 2008.
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New legal reform to provide legal protection to owners of rental apartments
On October 11 the BOE (Spanish Official State Gazette) published a new legal reform through which the Spanish Government has attempted to shorten eviction procedures following tenants' failure to pay rent. This new reform enters into force on October 31, 2011 and we have yet to see whether it will provide security for owners of rental apartments.
Spanish real estate agencies looking to apartment rentals to overcome the recession
Spanish real estate agencies are focusing on the housing rental market as a way to overcome the current economic recession in the country. While renting is a reality for many Spaniards today, economists also believe that it will lift Spain out of its current financial crisis, linked to an over-purchasing of property on the real estate market in the last few years.
Eviction Still a Lengthy Process a Year after Legal Reform
Property owners continue to struggle to evict tenants a year after reforms to property law in Spain. Law 19/2009 of November 23, 2009 made it easier for property owners to evict tenants who refuse to pay rent, however in reality the numbers of such evictions has not increased.
New Problems for Rental Corporation
The Rental Corporation, known as SPA, is facing further problems, now with property owners who have complained that the corporation has failed to fulfil on its contracts. According to official reports, the Rental Corporation has returned properties to their owners rather than rent them out as agreed.
Why Don’t Many Owners Declare Rental Income in Spain?
Suspicions of tax evasion have once again become a concern in Spain. According to the Union of Employees of the Department of the Treasury, GESTHA, 55 percent of owners do not declare rental income. Why is this the case?
Ministry of Housing focuses on Investing in Rental Properties and Restoration
The Spanish Ministry of Housing has announced plans to promote investments in rental properties. The ministry also stated it aims to strengthen the housing rental market.
Savings Banks Look to Rent Flats with Public Assistance
Spanish savings banks plan to rent the many apartment units they have repossessed during the crisis in the real estate market, which has turned them and other financial institutions into serious property owners. Renting, say the banks, could be just the solution for them.
Information on Rental Assistance Improves
The Spanish Ministry of Housing has enhanced how it communicates information on rental assistance, known as the Basic Rental Allowance (RBE, Renta Básica de Emancipación in Spanish). The ministry aims to perfect communication between government and youth who receive the monthly allowance.
Landlords Not Paying Taxes on Rental Properties
An article published in Bloomberg says apartment rentals grew by 18 percent in Spain in 2008, reaching a figure of 2.2 million residential units. However, income declared by property owners only increased by 0.1 percent. How is this possible?
SOCIMI Regulation Approved
Law 11/2009 on the regulation of Societies with Investments in the Property Market (SOCIMI), listed companies dedicated to apartment and other property rentals, was published in the Official Bulletin of the State on October 27, 2009.
Two Rental Delays Warrant Eviction
A number of newspapers have reported a Supreme Court ruling gives relief to property owners with tenants who are late in making rental payment. At CASSANA we believe the judgment will strengthen renting in Spain.
Don't forget to claim the rental deduction
Remember tenants in Spain-representing some 11 percent of families-have 2009 income tax (IRPF) deduction which can be claimed until June 30, 2010.
Does taxation favour rentals with options to buy?
CASSANA has learned that the national government is considering improving taxation on property rentals with options to buy because current taxation is a disincentive.
Assistance from the Valencian Rental Agency
The Generalitat's Valencian Rental Agency ( IVVSA) continues to offer assistance to both property owners and tenants.
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