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"Porto com Sentido" opens applications for owners

"Porto com Sentido" opens applications for owners
15 Jul 2020

Applications are now open for the first public consultation addressed to owners interested in hiring their properties, under the "Porto com Sentido" program, promoted by the Porto City Council. The objective is to select, in this first phase, 250 homes to be placed on the affordable rental market.

The initiative aims to attract thousands of new residents to the city center, through the provision of properties that are available on the free rental market, including those previously used for Local Lodgement (AL).

For the owners, there are advantages associated with joining this regime, including the possibility of prepayment of two years of rent by the Municipality of Porto, as well as the enjoyment of tax benefits under the IRS, IRC and IMI provided by law.

On the other hand, landlords who join the program see their risk substantially reduced, since it will be the Municipality that directly assumes the timely payment of rents, the regular maintenance of properties and also the timely delivery of fractions, at the end of the contract and in the initial conditions.

Then, the properties captured by this consultation will be placed on the affordable rental market. The rents that the tenants will have to pay to the Porto Chamber will be calculated according to the parameters of the accessible lease, that is, the base price will be fixed according to a "brake" price on its real market value. Lessees will be able to benefit from an income subsidy of up to 30% of the amount, attributed by the municipality when they are unable to comply with the effort rate provided for by law.

City investment exceeds 4 million euros by 2022, for an estimate of a total of 1,000 homes covered by the program.

The public consultation procedure for hiring leases will run until the end of 2020, with the Real Estate Verification and Acceptance Processes, in a monthly cadence or in each sum of ten applications, for all parishes. The first analysis is scheduled for September or, possibly, from the first sum of 10 applications.

Get to know the terms of the Public Tender and to apply go to the website of the municipal company Porto Vivo, SRU, which ensures the operational management of the program.