- The Catalan Tenant Union denounced Azora three years ago, the third largest putre fund in Spain. The union denounced the ten clauses it laid down in the rental contracts, of which nine have been revoked by a court in Barcelona. This is the first such resolution in the Spanish State and the Tenant Union believes it can serve to "paralyse thousands of cases of abuse". In Donostia they created the Azoraren Maizterrak platform to denounce the evictions of the company.
The vulture fund Azora has been sanctioned in Catalonia for establishing "abusive clauses" in rental housing contracts. The Catalan Tenant Union denounced three years ago with the lawyers’ association Ronda and the home tenant owned by Silvia Torres Azora. They denounced ten clauses, nine of which were motivated by a judge in Barcelona after three years.
In Spain it is the first time that the activity of a vulture fund has been punished. The Tenant Union has communicated through a note the "victory" and has expressed its optimism that this issue has opened the door to "halt thousands of cases of abuse" of funds. The vulture fund Azora has recently acquired the bus stations of Bilbao and San Sebastian, and in San Sebastian a platform has been created against it, called by the Tenant of Azora, to denounce the evictions.
Nine "abusive" clauses
Silvia Torres, neighboring Granollers, reports that Azora has increased the rent from 690 to 1,100 euros a month within three years. A court has now ruled that the increase in rent above the consumer price index of the CPI is not legal.
Azora forces tenants to sign contracts under pressure and without third party testimony
Azora has also been condemned by eight more clauses. Among other things, the tenant obliges to sign pressurized contracts without being able to consult vulture funds with third parties. Torres saw the contract for the first time on the last date to sign the document without having time to analyze it.
It also imposes "disproportionate" penalties on its contracts. Among other things, do not return the bond for painting white walls or leave behind the tenant the problems caused by external reasons.
Azora should also repeal the periodic inspection clause. Although the vulture fund was sometimes competent to carry out monitoring visits to the housing situation, the court has ruled that the tenant will only have to prove that there has been no damage on leaving the housing.
Speculating with thousands of homes
The Azora vulture fund is the third largest in the State, with 13,000 homes owned and 20,000 managed.