Entitlement to housing benefit in the event of financial bottlenecks in condominiums - all information

Entitlement to housing benefit in the event of financial bottlenecks in condominiums - all information

According to a report by www.t-online.de, unforeseen circumstances such as new family members, job loss or long-term illness can lead to financial bottlenecks that make it difficult to cover housing costs. In such cases, housing benefit can provide financial support for property owners in accordance with the Housing Benefit Act (WoGG).

According to legal regulations, apartment owners are entitled to housing benefit if they apply for a so-called burden subsidy. This subsidy serves to enable family-friendly and appropriate housing. As the owner of an apartment, a single-family home or apartment building, a small settlement, a cooperative apartment or as a person with a leasehold, you can apply for housing benefit provided you meet certain requirements.

However, it is important to note that there are certain income and asset limits to consider. For example, individual people are allowed to have assets of up to 60,000 euros, with an additional 30,000 euros tax allowance for each additional person in the household. If these limits are exceeded, the entitlement to housing benefit expires.

For property experts, this can have an impact on the property market as housing benefit can help to support owners to remain in their properties rather than having to sell due to financial difficulties. This can reduce condo sales and therefore impact property prices and supply on the market. It is important to consider these legal regulations and financial support options in the real estate market in order to make informed decisions and forecasts.