Urbagestión reaches an agreement for Maricarmen to return to her home

MadridUrbagestión, the investment fund that owns Maricarmen's apartment, reached an agreement this Monday with the resident's lawyers so that she can return home. The 87-year-old woman was evicted last week from the apartment where she lived in the Retiro neighborhood of Madrid, which has triggered protests across the country, a sit-in at the Puerta del Sol in Madrid, and a race-against-time negotiation between the Spanish government and its investiture partners for an emergency decree on housing. Now, Maricarmen will have to ratify the agreement, her representatives explained, stating that she will have to pay around 30% of her pension, approximately 500 euros (similar to the amount she was paying until now) in a contract renewed for eight years.

"It is a historic milestone. It had never happened before," celebrated Maricarmen Abascal's lawyer and the Tenants' Union, who criticized the role of public administrations, which "shone by their absence." Once she is discharged from the hospital, Maricarmen will be able to return to her home.

The agreement between Urbagestión and Maricarmen's representatives and family members was reached this Monday night after four hours of negotiation. The Municipal Housing and Land Company of the Madrid City Council also participated in this meeting, acting as a mediator. The Tenants' Union has supported the resident throughout the entire process. After being evicted, the resident had been admitted to the Gregorio Marañón hospital in Madrid while waiting for a housing solution.

Faced with social and media pressure, the investment fund proposed ceding—not selling—the apartment to the Madrid public company so that it could rent it to Maricarmen at an affordable price. The public entity, however, rejected it because the apartment did not meet the requirements.

The property owner proposed a rent increase to 1,650 euros, which Maricarmen could not afford: she has a pension of 1,350 euros and until now was paying 500 euros in rent, because she had an old rent contract. Despite negotiation attempts by Maricarmen's lawyers—last week's eviction came after three previous attempts at execution—and pressure from the Tenants' Union, the investment fund had refused to budge. In fact, Urbagestión, which bought the apartment from Renta Corporación, went as far as asking her for 2,650 euros.