Sareb assigns 50 homes to L’Hospitalet de Llobregat Town Council to be let as social housing

Sareb today entered into an agreement with L’Hospitalet de Llobregat Town Council to temporarily assign them 50 homes, which will be used for social housing.

The agreement, signed by the Mayor of L’Hospitalet de Llobregat, Nuria Marín, and Sareb’s Head of Corporate Social Responsibility (CSR), Gaspar González-Palenzuela, is valid for four years and will allow the council to manage the properties in order to meet the housing needs of people at risk of social exclusion.
Up to 50% of these homes may be occupied by families in default of payment or without a rented or purchased property, in which case L’Hospitalet de Llobregat Town Council will help to rectify the situation.

In exchange for the properties, Sareb will receive monthly compensation of €75 for occupied homes and €125 for vacant homes. This money will be used by Sareb to cover the insurance, community and extraordinary repair costs of the assigned properties. The council will pay all of the corresponding charges related to the management of the homes, as well as their day-to-day maintenance and Property Tax (IBI), among other costs.

“With this agreement, Sareb furthers its commitment and contribution to helping councils tackle the issue of social housing. These pledges of corporate social responsibility complement Sareb’s core mission to divest the real estate assets transferred to it from the banks that received state aid”, said Sareb’s Head of CSR, Gaspar González-Palenzuela.

Sareb launched its social housing programme in October 2013 with 2,000 units, which has since doubled to 4,000 units. Since this initiative began, Sareb has assigned 2,390 homes in agreements with 11 autonomous communities and 6 councils, including Madrid and Barcelona.

By entering into this agreement with the L’Hospitalet de Llobregat Town Council, close to 6,000 people will benefit from the affordable rental housing plans signed by Sareb.