Who pays for non-payment of rent insurance
Entering the bank and seeing that the payments for your rented home always arrive on time, the dream of many, right? And, putting a home for rent generates a lot of uncertainty. You as the owner do not want to take risks or have to manage incidents. But, this is why our comprehensive rental management exists. Hiring rental insurance for the owner is the solution to all these doubts, but who pays for non-payment of rent insurance? At Housfy we take care of accompanying you throughout the entire process to resolve all your doubts. In addition, we guarantee the collection of rents, since, if the tenant does not pay, we will do it! Don’t wait any longer and enjoy a safe rental in your city.
Who pays for non-payment of rent insurance?
The Urban Leasing Law (LAU) does not say anything regarding the insurance of non-payment of rent by who pays it, and allows it to be decided through an agreement between the landlord and tenant, as long as it is specified in the rental contract . Therefore, non-payment Colombia Phone Number List insurance can be paid by both the owner and the tenant, however, by default, it should be paid by the homeowner. Additionally, one of the things you should keep in mind is that if you reach an agreement in which the tenant is responsible for paying the insurance. You should think that if at any time you stop paying the contributions, it is most likely that you will also stop paying the policy.
Who benefits?
Relate to the previous point, it is most advisable that the homeowner be responsible for paying the insurance. However, the tenant also benefits in a certain way. Let’s see it in an example: you are the owner and you want to put your apartment for rent, what Cambodia Phone Number List price do you set? A price with which you obtain profitability and an extra to cover incidents that may occur. So, what happens if you have all these incidents covered? That as an owner you will enjoy greater peace of mind and accept a lower price. Thus, the tenant will be able to benefit from a lower price . And, on the other hand, the owner will rent his home with complete security.