Worried about squatters getting into your vacant home in Spain? Fear no more! Rent out your property and protect your income with tenant default insurance. In this article, we explain how to avoid squatting by renting out your property and guaranteeing your monthly income.
The threat of squatting
Squatting is a growing problem affecting homeowners, causing stress and loss of income. When you rent out your home, not only do you earn additional income but you can also avoid potential squatters. A tenant default insurance policy offers additional protection, securing monthly payments even in late payment situations or the tenant's inability to pay.
Risks of leaving your house empty
Leaving a property empty carries risks such as theft, vandalism and storm damage. Squatting is just one problem; maintenance and disrepair are added concerns.
Advantages of renting your empty house
Renting your home offers benefits such as additional income, discouraging squatting, regular property maintenance and flexibility to recover your property in the future.
How does a tenant default insurance work?
Tenant default insurance guarantees that rent is paid, even in the case of late payment. It offers legal coverage, covering expenses and providing legal assistance in eviction proceedings.
How does tenant default insurance protect landlords?
Property safety is a fundamental concern for any homeowner. In a world where squatting is a reality, tenant default insurance becomes essential to safeguard your interests as a landlord.
This insurance protects homeowners and provides peace of mind in potentially complicated situations. Here are some examples:
- Guaranteed income: Ensures a steady flow of income, even if the tenant stops paying
- Legal coverage: Covers legal expenses associated with eviction
- Legal assistance: You'll have access to specialist lawyers who will guide you through the eviction process and provide legal support in complex processes.
Steps to take when renting your home
Renting your home is an important decision that involves several key responsibilities and considerations. To ensure that everything runs smoothly and to protect your interests as a landlord, it is essential to follow several key steps:
- Prepare the property: Make sure the property is in optimal condition.
- Set the rent price: Fix a fair and competitive price.
- Advertising: Advertise your property on idealista.com, Spain's leading property portal.
- Rental agreement: Create a clear and complete agreement. You can use the one on idealista – it's free: Free online rental contract - idealista
- Tenant default insurance: Take out insurance from idealista by ARAG for full protection. Two leading companies – idealista and ARAG – have joined forces to provide you with the best tenant default insurance on the market.
- Maintenance and communication: Ensure effective communication and guarantee regular maintenance.
Renting out your vacant home and getting tenant default insurance are crucial steps to avoid squatting and ensure a steady income. Don't let your home fall victim to squatting; take preventive measures to protect it and guarantee a steady income. Renting your property and having adequate insurance are fundamental for protection and peace of mind as a homeowner.
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