How does it work and what insurance cover about unpaid rent?

 

Where bank guarantees before or personal guarantors are asking, now formalize rental insurance for better coverins. This new formula for homeowners backs are covered against possible defaults, is an increasingly used alternative that has also served to stimulate the market and allow access to rental housing tenants to remain solvent, it had no economic capacity enough to enter in your financial institution a significant amount of money in the form of guarantees

and, what covers me? Well, firstly it is a filter to select the tenant. Before signing the contract the insurance company or the realtor who intermediate in the policy make a feasibility study to ensure that the candidate is solvent

After signing the lease, it is usual that the insurance covers the payment of rents due up to a maximum of 12 months, and in some cases, unpaid bills are ahead, although it depends on the insurance

In addition, many offer legal defense to the owner to possible civil or criminal disputes with the tenant. It is also common that protect against property damage and theft of the property of the continent that may be caused by the tenant

The cost of this insurance is typically between 3% and 5% of annual income, ie, to an apartment where the rent is 700 euros per month, would cost between 252 and 420 euros per year, points as the real estate agents in the Costa del Sol InmoLaSirena

When should report the default?

Notice is paramount when that occurs so that the legal department of insurance and make the appropriate arrangements present the eviction. Also, if that is not the default complaint no progress occurs

After exhausting amicably, and filed eviction and rent completed claim within 3 months duration, the insured may request the insurer a preview of all income and unpaid until such time exceeding the franchise, which is usually the month deposit

What if I report late? After 45 days from the date of default, the insured forfeits the advancement of the rents and until there is a judgment of eviction and housing recovers

An option upward

Insurance unpaid rent is gaining popularity among homeowners. In fact, six out of 10 tenants requires additional guarantees beyond the bond and the default policy is the most demanded and has grown more in the last year, according to data from the Spanish observatory rental insurance ( OESA) , and, it seems, are happy. nearly 70% of homeowners who entered into rental insurance renews what they value most are offering coverage (27%), cost (22%), speed of response (18%) and the tenant's credit report (12%)

Moving to Spain: Registration Procedures

Moving to Spain: Registration Procedures  As a citizen of the European Community or Switzerland, you only need to produce an appropriate identity document or a current passport to enter Spain. You can stay for three months to find a job or find work for yourself. If you have still not found a job after three months, you are entitled to stay for longer if you continue seeking work.

If your family members are not citizens of the Community, the EEA or Switzerland, they must apply for a residence card for Community relatives if they are going to stay in the country with you for more than three months.

Necessary documents

After you arrive in Spain, you have a period of three months in which to apply at the Oficina de Extranjeros (Foreign Nationals’ Office) or at a police station for registration in the Registro Central de Extranjeros (Central Register of Foreign Nationals). You will need to present your valid passport or identity card and pay a fee. The Office will give you a registration certificate with an NIE (Número de identificación de Extranjeros) [Non-nationals’ identification number]. This procedure has substituted the former Community resident’s card.

For the purposes of identification, any non-national wishing to have an economic, social or professional relation with Spain must have the personal, unique and exclusive NIE. This may be obtained automatically when applying to be included in the central register of foreign nationals, but it may also be applied for separately.

Those from countries which are not members of the EEA or from Switzerland require a residence permit to live in Spain. Ask for information in Spanish embassy in your country of origin or from the Spanish Ministry of the Interior.

Registration

A registration certificate can be obtained from the local Ayuntamiento [Local Council] whenever you need to prove that you live in Spain. For this you will need to show the rental contract for your accommodation, or your electricity or water bill, etc. as proof that you do live there.

If this is the first time you have worked in Spain, you must obtain your own Social Security membership number. You can arrange this yourself or your company can do it on your behalf. You must produce the following at the Social Security office in order to be issued with the card:

• Application form (TA-1)
• Identity document

You will then be given a Tarjeta de la Seguridad Social [Social Security Card], which must be presented at the corresponding health centre in order to be assigned to a doctor and obtain a tarjeta sanitaria [health certificate].