Is it Possible to Defer Private Rental Payments Between Individuals in Spain?

23 March 2020 – Brainsre.news

The extension of the moratorium on mortgages to rental homes raises complex judicial and legal challenges in a market managed, for the most part, by individuals. Stakeholders are being advised to hold private negotiations to modify payments. In Spain, more than 90% of rental homes are owned by individuals, who in many cases use the income to supplement their pensions or wages.

The extension of the moratorium on mortgages to rental homes raises complex judicial and legal challenges in a market managed, for the most part, by individuals. Stakeholders are being advised to hold private negotiations to modify payments, where appropriate. In Spain, more than 90% of rental homes are owned by individuals, who in many cases use the income to supplement their pensions or wages, compared to 10% in the hands of companies.

The number of households living in rental properties accounts for around 20% of the total, whilst almost 80% of households own their homes, according to the latest ‘Living conditions survey’, by Spain’s National Institute of Statistics (INE ). That percentage is critical however in young people and SMEs.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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