Access to housing is one of the biggest obstacles the youth face. The average age of emancipation in Spain is close to 30 years, far from the 26 European average. Correcting these differences is the objective of the youth rental bonus, a recently approved aid program that could benefit around 70,000 young people.
What's the youth rental bonus?
It is aid of 250 euros per month that young people between ages 18 and 35 can enjoy for up to two years. This youth rental bonus will be per person, not per home, and it will be necessary to meet a series of requirements, in addition to age:
• The dwelling must be the habitual and permanent residence of the applicant, and they must present a rental contract in their name and get registered on the property.
• Have a regular source of income. To do this, it would suffice to prove a working life of at least three months in the six months immediately before the application or a stable source of income during the subsequent six months.
• The income of the cohabitation unit must be less than three times the IPREM, the Public Indicator of Income for Multiple Effects, that is, slightly more than €24,300.
• The aid received will not exceed the price paid for the rent.
• The maximum amount of the rental must not exceed €600, although in some cases it may rise to €900.
• In the case of room rental, the maximum price will be €300, extendable to €450.
Furthermore, this youth rental bonus is compatible with other types of aid aimed at particularly vulnerable groups. It is also the same with the Minimum Vital Income and the non-contributory Social Security benefits. In these cases, the sum of all the aid received may not exceed 100% of the rental payment.
In other cases, such as the aids included in the Youth Aid Program or the National Strategy for the Demographic Challenge, there are no incompatibilities either. The difference is that the sum of all the aid may not exceed 75% of the rental payment.
How to apply for these rental aids?
The first step is to make sure you meet all the requirements. After that, it will have to be requested in the Housing department of the region, since they will be the ones in charge of making the calls and delivering the aid.
That's why there is still no set date to request the bonus, and we'll still have to wait a few weeks. In any case, it will be retroactive.
If you are thinking of emancipating yourself and searching for a rental home, you will find many listings to rent at Spainhouses.net. Enter your preferences in the browser to find the one you need. Don't wait any longer to start a new life.