Mahina proposes immediately selling "houses for a ruble" with maximum benefit
Denis, Let's Talk Tomsk's "Dom za Rubl" Proposal
Hey there! Let's dive into the latest surrounding the "Dom za Rubl" program in Tomsk. A proposed update from the mayor suggests modifications to the program's conditions, specifically setting a maximum rental subsidy from the get-go, according to reports from May 6, 2023.
You might already know, the program presently involves 64 properties, with 14 homes already restored, and their tenants have benefitted from the maximum subsidy of 1 ruble.
The mayor has expressed a desire to reduce the burden on investors aiming to work with this program. He believes setting the rate at 1 ruble initial rental fee would be a sensible move, given that credit rates remain relatively high. However, if the restoration isn't completed within the predetermined timeframe (5 or 6 years), the unpaid rent for the entire duration could be imposed as a penalty.
Such measures could potentially boost investor interest in the "Dom za Rubl" program.
Book about Tomsk's "Dom za Rubl" Project
Launched in 2016, Tomsk's "Dom za Rubl" project allows investors to restore old homes for personal use, with rental subsidies made available. Once a project document is developed, the rental fee decreases to 10% of the market rate, further reducing to 1 ruble once repairs have been completed. The lease term is 49 years, with rental subsidies also offered for the land plot where the property is situated.
For the first two years, the tenant enjoys a 0.1% rental subsidy based on the market rate. After the project has been approved, this subsidy is extended for another 4 years. Following the completion of repairs, the subsidy covers the entire lease term (49 years).
For the latest and accurate details on program changes, it would be best to consult official local government resources or news outlets in Tomsk. Keep that mind as you consider getting involved in the "Dom za Rubl" program!
- The proposed update by the mayor of Tomsk's "Dom za Rubl" program includes a strong emphasis on setting a maximum rental subsidy, which could help reduce the burden on investors involved in real-estate investing.
- The section 49 of Tomsk's "Dom za Rubl" project details the rental fee decreasing to 10% of the market rate once a project document is developed.
- Once the restoration is completed within the predetermined timeframe (5 or 6 years), the investors benefit from the rental subsidy covering the entire 49-year lease term.
- The "Dom za Rubl" project's book reveals that the initial rental fee is set at 1 ruble after the repairs have been completed, which the mayor suggests as a sensible move to boost investor interest in the program.
