08/11/2021

“If your tenant stops paying the rent… you continue to collect your monthly income and utilities”

Sometimes they are inheritances and other investments. Our client Mayte bought a flat. Then she went to live in her partner’s house, with more functionality and a bigger house to welcome the coming child.

She wanted to keep her apartment and the solution to do so was to put it up for rent. She looked for tenants, signed the contract and everything was going well until they had financial problems: Unpaid utility bills, pending monthly payments, mishaps in the apartment, how could the apartment be recovered if there was a breach of contract?

There is “rent guarantee” insurance to help you choose your ideal tenant with solvency analysis without the need for a lot of paperwork and to guarantee the payment of the rent owed and utilities. Leaving electricity or gas bills unpaid from last winter can be a big hit to the pocket, which would be even higher than rent debt.

In addition, good rent guarantee insurance is responsible for claiming and defending your rights if there is a breach of contract, damages caused to the residence or premises, and even compensation for acts of vandalism caused by malicious tenants. Good legal advice can guide you to recover and protect your property or to evict the tenant as quickly as possible.

There are those who depend on their rental income to live. This is their investment and now their income. If the people who have rented do not comply or do not have income, they have no protection.

Sometimes they hesitate to rent out the village home or inherited premises. You are afraid that they will destroy it or that they will not pay you or you are afraid of having to pay their bills. And in the meantime, the village home sinks, the commercial premises turn into garbage dumps and dust… Giving them new life, an opportunity to use them, can be good for you, for your goods and for the people who need to rent them. Protect your interests.

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