Valencia will grant 250 euros a month to young people in the region to help rental costs

Young people between the age of 16 and 30 are having to put aside up to 64% of their salary to pay for rented accommodation.

Monday 6th June 2022 – Mike Smith
Source: original article – Álvaro Monfort (Xàbia AL DÍA)

The Generalitat Valenciana has presented details of the Bono Alquiler Joven, a fund that aims to assist young people with limited economic means with their rental costs for a room in a house or another space assigned for that purpose, direct aid that has an investment of 45 million euros.

The Comunidad Valenciana will be the first autonomous region to process these grants this year. The maximum amount to be granted in 2022 will initially be 22,800,000 euros with a monthly contribution of 250 euros for young people up to 35 years old, a total of 6,000 euros spread over 24 monthly payments.

People of legal age up to and including 35 years of age who are holders (or are in a position to be) of a rental contract and maintain, for as long as the aid is granted, the same rented residence or room may benefit from these grants. It will not be necessary to have already signed the rental contract when requesting the service.

The rent or transfer price of the home must be equal to or less than 600 euros per month, while in the case of renting a room, this rent is established at a maximum of 300 euros per month. General expenses, bonds, services, taxes, or charges will not be eligible.

The aid will be granted for a period of two years and the beneficiaries will be obliged to notify the Ministry of Housing of any modification of the conditions or requirements that motivated the granting of the Bono Alquiler Joven.

In the event that the global amount allocated to these grants were increased, the application submission period would be reopened.

The application submission period will begin the day after the order is published in the DOGV and will remain open until October 31st 2022.

The application and the required documentation will be made through the completion of an online form that will be available HERE along with all the information and required documentation.

The municipalities, associations and the offices of the Xarxa Jove Program of the IVAJ can submit applications online by means of a digital certificate, on behalf of the interested persons who authorize them by means of a form.

According to the Observatorio de Emancipación Juvenil, in the first half of 2021, only 13.7% of young Valencians could leave the family home to move into their own place, with women having greater difficulty becoming independent. In addition, a person between 16 and 30 years of age in the Comunidad Valenciana has to allocate 64% of their salary to pay the rent if they live alone and 35% if they shares. It is something that is well-known to the young people of Xàbia where the investment that has to be made to rent a home is even greater.

Click on the logo above to read the original article on Xàbia AL DÍA.

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