Do you feel secure with the rental of your property?

Let’s take an example: non-payment insurance is contracted in January 2020 that expires in January 2021, with coverage for 12 months of unpaid rents. If in October 2020 they stop paying, from then on the insurer will begin to pay the rents, removing the excess month, and will pay up to 12 months of unpaid rents, that is, from November 2020 to October 2021 (both inclusive), renew or not renew the insurance in January 2021. Logically, if the tenant leaves or pays before those 12 months of coverage, the insurer will not continue paying because otherwise it would charge twice and that would constitute an undue profit from the insurance.

Legal defense. The company provides lawyers and solicitors to initiate the eviction so that the owner obtains possession of the property as soon as possible. The owner would have to go to the notary to make a power of attorney for lawsuits in favor of these professionals; Of course, the cost of power is included in the coverage. Even if the owner is a company, it also covered the court fees that companies have to pay to file an eviction lawsuit. This coverage is usually up to €10,000 and in some companies this amount is reduced to €1,500 if the chosen lawyer is not the company’s lawyer. The legal defense is not only intended to carry out the eviction, but also for any controversy that arises, for example, a sublease, non-payment of supplies, etc.

And the third notable coverage would be acts of vandalism, which can be to the content and the continent or only to the continent. It is necessary to clarify this coverage to avoid misunderstandings because the purpose is not to renovate the property once the tenant leaves, but rather to fix any possible damage caused by the tenant if the tenant has acted with fraud or bad faith, but not for evil. use.

There are other additional coverages, also interesting, such as rent advance (the owner would collect month by month without having to wait for a ruling or eviction), also legal consultations, the payment of a maximum amount of supplies, urgent assistance (in a company), changing the lock if eviction occurs and, of course, the tenant’s viability study, necessary for hiring.

The income of all tenants is added up and they could not allocate more than 45% of that income to rent. For example, if one or several tenants earn a total of €1,000 per month, they could access a rental. with a maximum income of €450 per month. In the event that you do not have sufficient income, you can always provide a guarantor. That guarantor would have to meet the same requirements as the tenant, some companies even allow the income of tenant and guarantor to be added. So it is not difficult to pass the feasibility study.

Our commitment: is that in less than 1 hour you will have your non-payment insurance if the requirements are met.

• Request and contract via web through the simple steps we propose
• FREE call to 900 xxx zzz where we will advise you and in a few minutes you will have your policy

The deductible is the amount that the insured assumes. The non-payment of rent insurance has a 1-month deductible; This means that the first month of non-compliance is assumed by the owner and the insurer will begin to cover from the second month up to the maximum contracted coverage (6, 12 months). As long as the tenant continues without paying inside the home. If the tenant leaves, the insurer would not cover those months that the tenant is not occupying the home, even if they appear in the insurance coverage.

The sooner the incident is reported, the sooner the company will start to try to collect it or initiate the eviction.

The insurer will compensate up to the maximum contracted rent (6, 12 months), until the tenant leaves the property or until payments are made. In the latter case, the owner must return to the insurer the amounts collected by both means (insurance and tenant).

The average terms range between 8 and 10 months from the first non-payment, although there are particularly slow judicial proceedings. The ideal is to contract 12 monthly payments.

If the rental contract was signed less than 1 year ago, the tenant’s viability study would have to be carried out, but if the rental contract is more than 1 year old, only the certificate and the signed rental contract are needed.

• Contract non-payment of rent insurance with coverage for 12 months of rent.
• Make sure that you are taking out insurance under the guarantee of an insurance company recognized by the General Directorate of Insurance and Pension Fund. You should NEVER contract with a private company that ensures the collection of rent since it does not have any type of control or financial support.
• Take photographs and inventory of the home and include it as an annex to the rental contract so that there is a record of the condition of the home at the time of renting it.
• Communicate the incident as soon as possible, although it is advisable that you first maintain contact with the tenant and take an interest in the situation. Many times they can be simple mistakes or small specific delays.