Hiring insurance for rental housing, the economic difference between preventing and regretting

The culture of safe for material goods does not have the scope that it should in Mexico, which represents a risk for people who have a home without a protection of this nature.

In Mexico, according to the National Survey of Financial Inclusion of the previous year, 21% of the population has a safeof which only 8.7% refers to a protection From home.

One of the main reasons why people do not hire a safe it is that it is considered too expensive or its advantages and benefits are ignored.

For people looking to put in lease a property, there are insurance that can give them certainty for the protection of your home.

Related Post

Ford, GM, Arm, Adobe, Nucor, KeyCorp, and More Stock Market Movers

September 15, 2023

Ford, GM, Nvidia, AMC, Norwegian, HP Inc., Delta, and More Stock Market Movers

September 14, 2023

Some Chinese Stocks Are a Real Bargain Now. Alibaba Is One of Them.

September 13, 2023

C3.ai, Apple, GameStop, UiPath, ChargePoint, Yext, BlackBerry, and More Market Movers

September 7, 2023

According to Diego Llano, financial director of the digital rental housing platform Morada Uno, there are currently alternatives for protection al lease that, for an affordable cost, protect the landlord.

According to Llano, by not having a protectionthe owners are exposed to potential losses derived from non-payment of rents, damage to the property or breaches of the rental agreement.

“The risk could be huge. The lack of payment of the tenant and his unwillingness to hand over possession of the property can cost a lot of money, it is best to prevent a conflict through the protection of lease”Llano shared.

The losses

In the experience of the director of Morada Uno, hiring a specialist lawyer to recover a house or apartment for rent can cost between 30,000 and 50,000 pesos.

In addition, the loss of income must be considered for at least six months, the average time that the recovery process of a property lasts.

Gerónimo Gaxiola, legal director of Morada Uno, remarked that the owner is also in danger of falling into the hands of offices that do not properly litigate.

“This would cause the trial to be lost, to sue again, and even to change lawyers, which generates greater expenses for the owner who already has an obvious problem,” said the specialist.

In the words of Gaxiola, the proportion of the benefits of take out insurancesince for 2.5% of the annual value of the rents, owners can protect themselves against losses that could range from 300% to 500% of their annual value.

“The numbers speak for themselves, that is the best way to invest to prevent. Have the certainty that you will receive your punctual income and that the possession of your property will not be at risk from the moment you start a relationship lease It has great value”, commented the proptech spokesperson.