What is a Rental Bond?

Lease bond

Rent a property, whether for residential use or as a commercial premises, requires today, the intermediation of a Lease Bond, through which, the owner of the property is assured, the payment of the monthly fee in case of delay on the part of the tenant or tenant.

Some years ago, the rent of a property only required the vote of confidence that should exist between the owner and those interested in renting, however, the economic uncertainty and irregularities that some people presented in their financial history, represented a risk for the landlords. For this reason, the Lease Bond, has become a need that provides legal protection to the owners of real estate, as it guarantees that the payment of the rent will be covered for breach or for possible damages that the occupant may cause to it. The surety will be the one who responds in case the guarantor does not do it.

One of the most important benefits offered by the Lease Bond to property owners is the legal certainty, since it will be the surety company who will respond in case the tenant does not comply with the agreement in the contract.

To be able to process a deposit, it is necessary that there is a lease contract and that the person interested in renting the property presents a solvency file where their income level is reflected. It must also have a joint and several obligor, who must present a property free of liens, which will be taken as collateral in case the payment of the rent is not met.

As for the costs of the  Lease Bonds, these vary according to the Surety and the cost of the rent, usually ranging from 85 to 90% of the value of the same.

Deposit of 1

Guarantees with a rental deposit, the payment of the rent that your tenant may fail to meet. Secure your income and protect your assets!