05 April 2024 10:53
Renovate – Rent: The platform for the program has opened
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Who are the beneficiaries of the Renovate – Rent program and what is the subsidy.
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From today (04.05.24) the Renovate – Rent program is implemented with the aim of “opening up” 12,500 closed properties, strengthening the real estate market with houses for rent.
Beneficiaries of inclusion in the Renovate – Rent will be able to submit online applications for participation, in the program that provides the subsidy of 40% of the renovation of their property up to the amount of 10,000 euros, with a total budget of 50 million euros. The conditions for someone to join this program are:
- The family income must be up to 40,000 euros
- The property limit should be up to 300,000 euros
- After the necessary cross-checks by DYPA, the interested parties will automatically receive information with the approval or rejection decision.
The next step is the immediate disbursement of the anticipated advance payment, which amounts to 50% of the pre-calculated subsidy amount.
Criteria and conditions
The houses must not be larger than 100 sq.m. and should be located in a residential area.
It is noted that “closed” houses are defined as those declared “vacant houses” in E2 in the last 3 years.
A prerequisite is that works and materials have been purchased with invoices, which should then be submitted electronically.
The owner after he will do the renovation, it is necessary to rent the property for three years and the way this is proven is when he submits the invoices to receive the subsidy, he also submits the electronic lease, which proves that he has already found the person or persons who will rent the house.
The possibility of advance payment of part of the subsidy concerns the owners or usufructuary with a usufruct ownership percentage equal to 50%.
Renovation in six months
Based on the MLA, the completion of the renovation of the property should be completed in up to 6 months in order to be available for rent.
In case the property will not be rented, then there will be a penalty equal to the refund of the renovation amount. It is noted that “outside” the program are those property owners who have joined the Save program.
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