Guide to Perfect Rental Protection Insurance
Renting a home that you own is a decision that Guide to Perfect entails great economic benefits. However, there are also situations that can cause the occasional headache. To avoid such situations, the best option is to take out rental protection insurance , also called payment protection insurance, an effective tool against possible problems that may arise with your tenants. At Housfy we have rent non-payment insurance to guarantee that everything works correctly, accompanied by a simple and efficient rental process. We tell you more in detail below. Rent your apartment and forget about worries 0% late payment. We take charge if the tenant does not pay. GET INFORMED FOR FREE Non-payment of rent insurance: what is it? Non-payment of rent insurance is a policy that protects the owner of a rented home against possible non-payment of the tenant’s monthly rent. In addition, it also covers any type of damage or damage that the tenant may cause to the property. It is about ensuring that the owner collects the monthly rent even if the tenant stops paying it.
The services covered by rental protection insurance
Contracting rental protection insurance does not only take care of possible non-payments by the tenant of the property. We also find other services relate to the Switzerland Phone Number List protection of the home against possible damage. These are some of the coverages available in insurance: Coverage of unpaid monthly payments. Compensation for acts of vandalism, theft or damage to the property. Protection against household belongings. Legal assistance present for any problem with the rental. How does rental protection insurance work? The way rental protection insurance works is similar to insurance in other areas. In this case, the contract already mentions the specific amount that the tenant of the leased property must pay each month, as well as the specific situations in which the insurance must intervene. How to hire it if you are an owner Taking out rental protection insurance raises a big question; Who should pay the amount? Both the owner and the tenant can be responsible for paying the insurance, since there is no law that regulates it.
What is its price and duration?
The price of non-payment protection insurance varies depending on the amount with which the owner must be compensated . Therefore, the higher the rental amount, the more expensive the insurance will be. In any case, the amount is different depending on the insurance Mexico Phone Number List company where you hire it. Regarding the duration of rental protection insurance, this may vary. Normally, insurers offer coverage that ranges between 6 and 12 months , although we can find some that extend up to 18 months . Choosing the duration of the insurance is an important task, since it is the period of time in which the owner is protected against possible non-payment by the tenant. It is important to know that the duration of the insurance is independent and does not correspond to the duration of the rental contract. Recommended reading: Home rental insurance relief for tenants Requirements to hire it Despite being a simple procedure, there are a series of requirements to be able to have rental protection insurance. First of all, the insurer must study the financial solvency of the tenant . To do this, she will request that the