What can I do with non-paying tenants?

mimmim

There is a problem that we cannot ignore and that is rent arrears . It is a big concern for many owners of rental apartments and when you find yourself in that situation it can be a real headache. Today we want to help you with an article about what you can do with non-paying tenants.


Rent your apartment and forget about worries
0% late payment. We take charge if the tenant does not pay.
GET INFORMED FOR FREE
What should be done if the tenants do not pay?
In the event that the tenants do not pay, you will have to follow these steps to solve it:

Notify the tenant of the delay in rent.
Try to reach an agreement between both parties.
Report the tenant for non-payment. If the tenant does not respond to the lawsuit and does not pay the outstanding rent or leave the property voluntarily, the next step would be to go to court and kick the tenant out of the home .
Eviction trial.
This process can last approximately 8 months and reach a price of €4000 . Furthermore, most Chinese Overseas America Number Data of the time the rent money is not recovered and the eviction process can become complicated. But, don't worry, because all is not lost nor do you have to resign yourself to the fact that this could happen.

How can you avoid it?
There is a simple way to avoid this and save yourself a lot of money: by taking out rental insurance . These policies are designed to protect the owner so that you can rent your apartment safely and with 100% guarantees.

The advantage of taking out a policy is that it protects you against non-payment of rent, as we will see later, but also with other problems that you may encounter. It all depends on the type of policy you take out and the coverage it offers. The most common thing is that it includes:

Legal defense.
Home insurance.
Coverage of material damage to the property.
Coverage against acts of vandalism.
Up to 12 monthly payments in case of non-payment of rent.
DIY service.
There are also policies that only include non-payment of rent, one of the biggest concerns of owners.

non-paying tenants

What do I do if my tenant doesn't pay me?
We have already seen what to do if the tenant does not pay under normal circumstances, now we will see what steps to follow if you have contracted rental insurance:

Report to the insurer. If your tenant is late with the rent payment, and it is not something specific, you will have to notify the insurer immediately so that they can begin the procedures. You have a period of 3 months to notify, if not, you will not have the right to collect the rent.
Claim. The insurer will proceed to claim the money from the tenant.
Demand. If they don't pay, as we have seen before, you will have to file a lawsuit.
Judicial route.
In this process, the big difference is that here the concern about tenants who begin to stop paying rent is much less. The moment you notify the insurer, you will no longer lose the rent money, you will continue to collect and you will have legal advice at all times. In addition, they will also cover the costs of the judicial process, so you will not have to worry about anything.




Recommended reading:   4 tricks to kick out a non-paying tenant
If you want to rent calmly and without risks, you can count on the help of our Housfy Rentals advisors. They will be in charge of the entire process, from searching for tenants to comprehensive rental management . In addition, we work with an insurance policy included in the price, so that you are 100% safe when renting.