Advantage of an insurance policy through a real estate agencies

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Advantage of an insurance policy through a real estate agencies

Posted by Tayrona Inmobiliaria on 22 December, 2023

Real estate agencies serve as intermediaries between property owners and tenants. They offer the whole service in rent and sales agreement, they take care of problem resolution, manage agreements and all paperwork behind it. 

Meanwhile, property owners are exposed to an unnecessary risk when they need to rent their properties, and this is where the real estate insurance policy takes place. The insurance policy protects the interests of both the landlord and tenant, and there are more benefits when choosing an insurance policy through a real estate agency:

  1. The insurance policy will cover the whole time tenants take up the property. 
  2. Ensures the pay up to 36 months for continuous arrears through the real estate in case of tenant breach, until the property has been restored.
  3. The policy automatically renews every year, avoiding in person paperwork processes behind it.
  4. The real state is in charge of arranging all corresponding documents, any judicial procedement, tenants requirements, and more, saving landlords’ time and effort. 

Real estate insurers cover up to 12 months in most cases, when offering their services directly to property owners. In addition, the landlord must personally take charge of the tenant evaluation and selection process, documentation and annual renewal, which could be more optimal and efficient if with a person or agency in charge with the time and knowledge necessary to carry out these functions.

The real estate agency offers much more complete services than insurers in terms of real estate matters, aside from their essential responsibilities. In the end, the landlord has gained complete peace of mind and guarantees even in the case the tenant fails to comply with his obligation.

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