30000 Euros for Municipal Rental Plan by EMVS
The Comprehensive Municipal Rental Plan launched by the Madrid City Council, through the EMVS, has been charged with controversy due to the fact that it is aimed at the middle class and not the most vulnerable groups.
The initiative proposes subsidies for the payment of rent to individuals and families who receive an annual gross salary of between 30000 euros and up to 88,200 euros, figures that have been alarming, but in which, as always, you have to read the fine print. Diego Lozano, CEO of EMVS, is in charge of detailing the keys to this plan, which aims to reactivate the rental market in the capital and increase the supply of homes.
This is a program that can only be understood within the framework of the pacts that all political groups in the City Council made in the summer. Within these agreements, which were signed in the Housing area, the objective was to increase the number of rental housing in Madrid.
which is one of the capitals with the least public housing for rent. In that sense, we work in two ways. On the one hand, there is the construction of protected rental housing and right now we are the administration in Spain that is building more housing of this type, in fact, in the next few years we will finish about 3,000 units and this year we will deliver around 1,000 , which will go to people who earn less than 3.5 times the Iprem. Nevertheless,
Indeed, the other way to expand our residential rental portfolio is by focusing on the thousands of vacant homes in Madrid. We will do so through the Reviva Program with which we will try to recover homes that have been empty for at least nine months, since we do not want to get into the rental market.
Many of them will be homes that need some repair and the owners have no interest in doing so or cannot, so we are going to finance them with up to 45,000 euros without interest to carry out these improvement works. We only exclude the obligation of nine months in houses for tourist use. In Madrid there are about 15,000, many of them out of regulation, and what we try is to return to the traditional rental market.