85% of small homeowners fear having to initiate an eviction, according to Asval

MADRID, 23 Nov. (EUROPA PRESS) –

85% of small homeowners fear having to initiate a process of eviction of the tenants of the property, according to data from the report ‘Rent and its regulatory and development context’, prepared by the Association of Rental Home Owners (Asval) and the Madrid Real Estate Exhibition (SIMA), which will be held from November 26 to 28.

The other great concern of small owners is that the tenant stops paying the rent, as indicated by 84% of the 400 owners surveyed, since for 40% of them this income is essential to meet personal and family needs.

The owners also fear the risk of occupancy of the homes they have for rent (80%) and, to a lesser extent, that there will be damage to the home, forced extensions of the contract or that rent limits are introduced.

In these situations, 85% consider that the rental market would have more stability if it is guaranteed that, in the event of an illegal occupation or non-payment, the owner will regain control of their home in the shortest possible time.

Asked about other measures to encourage the rental market, 47% consider it positive to have State guarantees to deal with contingencies caused by tenants, while 24% bet on paying less taxes on rental income.

97% of the owners assure in this survey that the speeding up of the eviction processes would help to increase the investment in rent. They would also feel safer if there were greater legal protection against defaults, delays or damage, as pointed out by 86% of those surveyed.

8 OUT OF 10, AGAINST LIMITING PRICES

In addition, 80% are against the rent price controls to continue promoting the supply in this sector. To do this, 65% defend an increase in the public housing stock for rent as the free price.

The surveyed owners also show a predisposition to rehabilitate or modernize their homes, and 48% rate as “quite or very important” the existence of subsidies to be able to make these improvements to their properties. To that is added 39% who ask for tax deductions for the rehabilitation of the apartments for rent.

PURCHASE PREFERENCE

The Asval and SIMA study confirms that, currently, homeowners are opting for buying rather than renting. This responds to economic reasons, thanks to the ease of accessing a mortgage. In addition, the mortgage payments are similar to those of the rent and many have already achieved enough savings for the entry of a house.

Although 53% of the 700 home applicants surveyed opted for the purchase, the other remaining would consider renting if the monthly amount of the rent was less than that of the mortgage payment (28%) or if the rental housing was in a better location, in better condition and with better qualities.