Renovate – Rent: The application platform has opened – The criteria and conditions

The program “Renovate – Rent” was implemented from Friday, April 5, which aims to “open” 12,500 closed properties, strengthening the real estate market with houses for rent.

The beneficiaries will be able to submit online applications for participation, in the program which provides for a subsidy of 40% of the renovation up to the amount of 10,000 euros, with a total budget of 50 million. euro.

The conditions are:

  • The family income must be up to 40,000 euros
  • The property limit should be up to 300,000 euros

After the necessary checks by DYPA, those interested will automatically be informed of the approval or rejection decision.

The next step is the immediate disbursement of the anticipated advance payment, which amounts to 50% of the estimated subsidy amount.

Criteria and conditions for the “Renovate-Rent” program

  • 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 the works and materials have been purchased with invoices, which should then be submitted electronically.

After the owner 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 people who will rent the house.

The possibility of paying part of the subsidy in advance concerns owners or usufructuary owners 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 given 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.