4 advantages of taking out surety insurance

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More and more owners want to rent a home to be able to make a profit from a property that they had empty. To do this, it is very useful to use a rental profitability calculator before taking the step . This will largely help you know if renting your apartment will be profitable for you.

But renting is an activity that involves a lot of effort and time on the part of the landlords, in addition to the risks it generates for them. So that owners are not exposed to these risks, the legislation that regulates rentals establishes a series of rules so that they are protected. Even so, they are not enough and, therefore, there are services such as surety insurance whose objective is to protect landlords. If you don't know the advantages of this type of insurance, we will tell you about them below.

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What is surety insurance?
Surety insurance or rental non-payment insurance is a service provided by an insurer Chinese Overseas America Number Data to guarantee compliance with certain rental standards. In the event that the regulations agreed in the rental contract are not complied with by the tenant, the insurance is responsible for compensating the insured, who is the owner of the property. Furthermore, if necessary, the necessary measures may be taken, including requesting judicial proceedings.

Having this type of insurance is very beneficial for both the landlord and the tenant, since for the former it is great protection against the dangers that they and their home may face. Regarding the second, if your landlord has one of them, he will not have to pay additional guarantees for the rent or have a rental bank guarantee which, in many cases, are of a very high amount.

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The 5 advantages of surety insurance
Protection against non-payment of fees
The main advantage of surety insurance is that they protect against situations of non-payment by the tenant , thus protecting the landlord from one of the most frequent problems in leases, non-payment of monthly payments. In this way, the owner of the apartment will have the payment of the installments insured if the tenant generates this type of situation by not paying the rent .

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Reduction of bureaucratic procedures
In the event that there is a problem that you have to manage with your tenant and that the surety insurance can take care of, it will do so. Therefore, another advantage of this type of insurance is that the landlord of the home can be freed from some procedures or procedures that can take up a lot of time.

Legal advice
Something very useful in housing leases is legal advice in terms of rentals. Whether for small bureaucratic procedures, due to doubts about procedures, to make the lease contract or for problems that require resolution through judicial means , the help of specialist lawyers is necessary at some point in a lease.

Most rental surety insurance policies include this type of service, which, in general terms, consists of supporting the owner by always following current regulations in terms of rentals.



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Expenses for damages and acts of vandalism
It shouldn't happen, but it is possible that a tenant could vandalize the home. If you have surety insurance, the relevant repairs to fix the damage that has occurred in the property will be fully or partially covered, depending on the policy that the landlord has contracted.

Surety insurance or non-payment insurance are great allies of the landlord of the home. If you are currently thinking about renting one of your properties and you would like to guarantee the collection of fees every month and have experts in the real estate sector advise you and take care of all the management of the home and the tenant, at Housfy Rentals We can offer you a rental management service and the best non-payment rental insurance on the market.