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Sareb assigns six homes to the Malaga City Council for families at risk of exclusion
12/09/2016

​This is the fourth agreement that the company has signed with a city council, following those agreed with Madrid, Barcelona and San Sebastián de los Reyes (Madrid)

To date, approximately 7,900 people have benefitted from the 2,270 homes that Sareb has assigned


The Management Company for Assets Arising from the Banking Sector Reorganisation (Sareb) has reached an agreement with the Malaga City Council to temporarily assign six homes, which will be used for social needs. The agreement was signed this morning by Francisco Pomares Fuertes, the council's Deputy Mayor, and by Gaspar González-Palenzuela, Sareb's Director of Corporate Social Responsibility.

The terms of the agreement, which will have a term of four years, assume that Malaga City Council will manage the assigned properties and will select the tenants for the homes as part of its social benefits programme framework. Up to 50% of these assigned homes can be occupied by families without a rented or purchased property, in which case the council will help to rectify these situations.

In exchange for assigning these properties, Sareb will receive monthly compensation of 75 euros for the occupied homes and 125 euros for vacant homes, which will be used by Sareb to pay the insurance, community and extraordinary repair costs. The Malaga City Council will pay for all of the corresponding charges related to the management of the homes, as well as their day-to-day management and Property Tax (IBI).

Sareb has offered a total of 4,000 homes to autonomous regions and large city councils, so that they can be used as part of their social welfare programmes. This is the fourth agreement that the company has signed with a city council, following those agreed with Madrid, Barcelona and San Sebastián de los Reyes. To date, the company has assigned over 2,270 homes, from which approximately 7,900 people now benefit.   

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