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Advantages for property owners renting property in Spain

Property owners in Spain who rent out their Flats could save 70% in Insurance Costs
In an interview on Spanish television, the Spanish Housing Minister, Carme Chacón, spoke about government plans to help property owners rent out their flats. In the latest proposals landlords could save up to 70% on multi-risk household insurance which would protect their property against defects and damage.

The Minister explained that under these proposals the costs of taking out insurance on a 70 m2 flat would drop from 170 euros to just 55 euros. She said that reduction in insurance costs would be available through the Public Renting Society.

Furthermore Chacón said that these proposals would be included in the State Plan for Housing, so that the highest number of people would be able to benefit from a grant of 6000 euros, already in place, destined for property owners who rent out their empty flats or houses.

All landlords who rent out empty property will be entitled to this grant regardless of how large the property is or how much the rent costs.

The Housing Minister said that these proposals which are intended to get more flats and houses onto the rental market will be formally presented by the Housing Ministry next week.

Chacón explained that for many people in Spain housing was the second most important social issue but for the young it was the first. Moreover, as well as supporting ‘vivienda protegida’ (council housing) destined for sale Chacón is also in favour of publicly rented public housing in an effort to put an end to what she called ‘Spain’s sad record of having the oldest age for leaving home in Europe’.