The Government of Spain has confirmed the imminent approval of the regulations that establish a new monthly bonus of 250 euros per month so that young people can pay rent. The objective is, according to the government, to facilitate the emancipation of young people.
The government has reserved 200 million euros from the state budget to finance the rental subsidy.
This new allowance will receive the green light from the Council of Ministers on Tuesday 18 January, according to government sources.
When does it come into force?
The government will approve the royal decree that regulates the new rental subsidy on Tuesday 18 January, but the measure will be retroactive from 1 January 2022.
What are the basic requirements to apply?
In order to receive this benefit, applicants must be young people between 18 and 35 years old and with an annual income of less than 24,318 euros.
This amount is equivalent to three times the Public Indicator of Income for Multiple Effects (IPREM), which the state uses as a reference to calculate subsidies and which in 2022 is 8,106 euros.
Can young people who share a flat apply for it?
As explained by the Minister of Transport, Mobility and Urban Agenda Raquel Sanchez, the youth bonus is per person.
Therefore, those people who rent in a shared apartment will be able to receive the aid, which will be for a maximum of 250 euros.
How long can this bonus be received?
The maximum period established to be able to benefit from this bonus of 250 euros per month to pay the rent is two years.
Even if the requirements are fulfilled for a longer time, as it is established now, the benefit expires after 2 years.
Is there a maximum limit on the rental price to receive it?
The government wants the youth rental bonus to be mainly for young people with few resources. Therefore, a rental price limit of 900 euros has been set.
With this, the government also wants the enter into force of the voucher not to generate an increase in rental prices. In addition, the amount of the aid can never be greater than what the person pays for the rent.
Will these limits be the same throughout Spain?
The region or neighborhood of the apartment that is rented will also influence the subsidy. When establishing these limits, it will be taken into account if the home is located in an area considered "stressed" by rental prices.
Is it compatible with other benefits?
This question still does not have a definitive answer, since the final text of the decree is not yet approved. If the young beneficiaries of the rental bouns already receive some type of financial support to pay the rent from the autonomous regions, local entities or other administrations or public entities, the central government voucher would be incompatible. But it can be collected at the same time as other benefits, such as the Minimum Vital Income (IMV, for its Spanish acronym).