What support does the lease bond provide to the owner of the property?
Just as bonds are used to guarantee the fulfillment of different types of contracts, the lease bonds seek to ensure that the tenants comply with the payment of the rents and other obligations acquired when renting a property.
It is common that factors such as: economic uncertainty, not knowing the tenant and possible irregularities in their financial history, represent a risk for landlords or owners.
The main purpose of a rental bond is to cover the unpaid rent, in case the tenant fails to comply with the payment of the same, thus protecting the interests of the owner.
The lease bonds can be issued for both residential and commercial use, that is, for both the Physical Person and the Moral Person, providing, in any case, the legal and legal support that the landlord needs.
What needs to be delivered to begin the process of this type of bond?
The main thing so that a lease bond can be issued, is that there is a contract where the landlord requests the tenant to issue said instrument, in addition to indicating the amount of monthly rent.
The lessee must deliver the documentation requested by the surety, as well as complete the corresponding forms and submit any of the following two guarantees:
- Well urbanized property and free of charge.
- Amount equivalent to 3 months of rent.
Once the documentation and guarantees are complete, the bail process will take around 3 business days.
We have 44 years of experience in the insurance and insurance sector, we maintain alliances with the best companies in both sectors and we always seek to protect the interests of our clients.
Do you own a property and want to rent it? Secure the protection of your estate by asking the tenant for a rental bond with us!