Casa Renovada, Casa Habitada

Renovar para Arrendar_Renovate for Rent

This program allows you to apply for support for rehabilitation, repair and improvement works of vacant housing intended for rent.

How and where to do

Do service RIAC

What I need

Service cost

    No additional costs.

Carry out the service at a RIAC store

What I need

Service cost

    No additional charges.

Agendamento do serviço

When to do

    The period for submitting the application runs from April 1st to December 31st.

Where to Do It

  • On this portal;
  • RIAC Stores;
  • Island Housing Services;
  • Regional Directorate for Housing.

Recipients

The support to be awarded is in the form of a refundable subsidy, without interest, granted to natural persons, as well as to private institutions of social solidarity and to legal persons of administrative public utility that pursue social purposes.
Holders of the right of ownership over the applied property who have their tax and contributory situation duly regularized and who are unable to rehabilitate the buildings using available banking products, equity or other means of financing can access this support.

Requirements for the provision of the servisse

Eligibility requirements for operations:
Promoters may submit applications for rehabilitation operations in buildings that, at the date of the decision on the application, cumulatively meet the following requirements:
a) Have not been rehabilitated or recovered with public support;
b) After rehabilitation, the building or fractions of residential use and its accessory parts are leased under the conditional rent or supported rent regimes;
c) Are not, at the time of the application, being subject to attachment, attachment or appointment to attachment in enforcement proceedings;
d) Are not located in a risk area.


Rehabilitation operations are ineligible when any of the following situations occur:
a) There is no interest of the Region in the lease of the houses targeted by the application;
b) The period of time for repayment of the reimbursement, depending on the value of the investment, is greater than one hundred and twenty months.

Other information

The financial support to be granted is subject to the following conditions:
a) The maximum amount for the rehabilitation operation is that resulting from the provisions of paragraph b) of paragraph 3 of article 24;
b) The maximum period of use of the support is twelve months, counted from the date of the first instalment, without prejudice to the possibility of being extended in cases duly justified by the promoter and accepted by the Regional Government department responsible for housing.


 Support Reimbursement:
The term of repayment of the financial support granted is that determined in the contract for the transfer of the property, and may not exceed one hundred and twenty months, counted from the beginning of its use under a conditional rent regime to be entered into with the Region.
The repayment is made in monthly instalments of an amount equal to the amount of the rent under the conditional rent regime, which the beneficiary stops receiving during the repayment period.
For the purposes of reimbursement, the expenses incurred in conservation works that have been carried out by the Region, duly justified, during the execution of the contract, are added to the initial investment.
At the end of the period of use, the property is returned to the owner in habitable conditions or, if there is interest from both parties, the Region continues to use it under the provisions of the New Urban Lease Regime.

Burden of inalienability
Subsidized dwellings are subject to an inalienability burden for a period equivalent to the repayment of the financial support granted, from the date of conclusion of the transfer contract. The burden is subject to registration, the entry of which must indicate its nature and deadline.


The financial support for the rehabilitation of the fire is reimbursed with the rents under a conditional rent regime, without prejudice to the requirement of other guarantees considered suitable and appropriate to the risk of the support granted.
The beneficiaries of the support must take out multi-risk insurance for the buildings and fractions subject to the financing that insures, at least, the value of the reconstruction of the property in the event of fire, lightning or explosion, floods and natural disasters, which must be in force until the full repayment of the support, under penalty of:
a) if the insurance has not been constituted, the reimbursement to the Region of the amount of support granted;
b) if the insurance is cancelled during the period of validity of the inalienability encumbrance, the suspension of the period of validity of said encumbrance, counted from the date of said cancellation.


If the owner wishes to sell the house before the end of the term, he must reimburse the Region the following amounts:
1.    Double the financial contribution granted, and not reimbursed, in the event that the sale takes place before the expiry of 50% of the period of the inalienability burden;
2.    The amount of the financial contribution granted, and not reimbursed, plus 50%, if the sale takes place after the expiry of 50% of the period of the inalienability encumbrance.


Expiry of the burden of inalienability:
The burden of inalienability expires in cases where there is a sale or award of the dwelling in enforcement proceedings for debts arising from loans for which the building is collateral, but does not exonerate the debtor from the payment to the Region of the amounts referred to above, depending on the time at which the award or sale takes place.

Average time to perform

In the pre-application phase, the managing entity assesses the application, within 90 days, to verify compliance with the promoter's eligibility conditions and the feasibility of the intervention.

The approved application gives rise to the conclusion of a contract to be formalized within a maximum period of 90 days from the date of communication of the approval of the application.

Applicable law