Rent with confidence: Advantages of the renters insurance

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Rent with confidence: Advantages of the renters insurance

Posted by Tayrona Inmobiliaria on 10 April, 2024
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Forget about worries when renting a residential or commercial property, it can be an experience full of tranquility and security. With renters insurances you’ll protect your estates and enjoy a more harmonious relationship with your tenant.

BENEFITS FOR LANDLORDS AND TENANTS

Protect your heritage: The rental policy protects you against property damages like fires, robberies, vandalism or accidental damages. It gives you the peace of mind of knowing that your investment is backed in case of any unforeseen event.

Covers damages to property structure: the policy protects against damages to property structure like walls damages, roofs, floors, electrical installations and sanitary.

Covers damages to real estates. Some policies also protect you against real estate damages that are found inside the property like furniture, electrodomestics and electronic equipment.

Financial peace of mind. Insurance guarantees you the pay of the rental fee, even if your tenant fails to comply with his obligations. This helps you to keep the financial stability and evite legal issues. 

Covers the payment of overdue rents. The policy covers the payment of overdue rents for up to a certain period, generally 3 to 6 months, and in some cases up to 36 months.

Covers eviction costs. In case it is necessary to evict a tenant for failing to comply with the contract, policy can cover the legal and judicial costs.

More harmonious relationship. Leasing with a rental policy creates an environment of trust between the parties. Both you and your tenant will feel safer and more secure, facilitating better communication and a longer-lasting relationship.

Avoid legal conflicts. Policy helps you to evade legal issues related with the rental contract like related with the rent pay, property damages or tenant eviction.

 

EVALUATE THE AVAILABLE OPTIONS IN THE MARKET 

It’s important to consider that rental policies in Colombia can change in terms of prices, coverage and conditions. Therefore, it is important to compare the different policies before choosing one that adapts better for your necessities. 

Below you’ll find more tips when choosing one rental policy in Colombia:

  • Compare prices: Obtain market rates of different insurance companies.
  • Consider the coverage:  Choose one policy that offers you the coverage that you need. 
  • Read conditions: Make sure to comprehend the conditions of the policy before you firm.

It’s also important to consider that the Colombian law demands that the urban property landlord has insurance against locative risks. This insurance must cover the property damages and damage to third parties caused for fires, explosion or ray.

 

BEYOND BASIC PROTECTION 

Rental policies not only protect you from damages and losses. Some options offer you additional benefits, as we explain in our publication: Types of real estate insurance.

At Tayrona Inmobiliaria, we advise you to find the policy that best suits your needs and budget. We have extensive experience in the real estate market and we offer you a personalized service to help you rent your property with complete peace of mind.

Rent with confidence it’s possible. Contact us today and discover how the policies can help you to protect your leasing contract and enjoy one more peaceful and safe experience. 

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