The Youth Rental Bonus can be requested from this Tuesday in Lanzarote

The Youth Rental Bonus may be requested in Lanzarote and throughout the archipelago from this Tuesday, August 2 to October 31, a grant of 250 euros to pay the rent of the house that will benefit about 4,000 young people between 18 and 35 years old with incomes below 24,318 euros, provided they accredit a lease agreement.

This was announced this Monday by the regional Minister of Housing, Sebastián Franquis, when presenting the Youth Rental Bonus, which the Canary Islands Government will grant to those who meet these requirements based on the biennial financing of 21.2 million that the Central Executive has granted for this region based on its population, a credit that could be extended with regional funds if it is accepted in the 2023 budgets.

In order to help the emancipation of young people, something that only 14.5% of the members of this age group achieve in the islands, the Youth Rental Bonus will be granted, in order of application and until the budget available for it is exhausted, both to people who live alone and to those who share a flat.

In addition, those who are in a position to sign a rental agreement in the coming weeks may also apply for this direct aid from this Tuesday and will have a period of two months to present the lease agreement and one more month to prove registration in that home, Franquis said.

The counselor explained that this subsidy will be granted retroactively from January 1, 2022 and will be paid quarterly from the time it comes into effect, which will occur when the applications that exhaust the available annual budget -10.6 million- or those received until October 31 are processed.

Requests will be submitted, preferably, online, at the electronic headquarters of the Government of the Canary Islands, and also through the seven chambers of commerce of the archipelago, or physically, in any registry of the regional Executive or the Canary Islands Housing Institute.

If a beneficiary of this Youth Rental Bonus loses his job and becomes unemployed, the Canary Islands Housing Institute would be responsible for studying, on a case-by-case basis, the situation of that person, under which it would be determined whether the conditions exist to maintain the aid or whether it should be suspended, Franquis said.

The counselor stressed that in the previous call for general rental aid more than 1,720 young people obtained this subsidy, while another 369 benefited last year with aid for the acquisition of their first home, two programs that had a budget of close to three million euros, respectively.