Is There Insurance For Non Payment Of Rent For Your Rental Property In Spain?
Increase In The Number of Renters
Every year the percentage of the population living in rented accommodation in Spain goes up, 23.9% last year in 2018 compared to 19.4% in 2005
This increase in demand has also led to a surge in the cost of rent, this, together with a precarious labour market; has resulted in an enormous increase in the number of people who have fallen behind with their payments or who cannot pay at all.
As the owner of a rented property you can take out a policy which covers the non payment of the rent, and some building and contents policies have already included this cover as an option
There are also policies that not only cover the non payment of rent but can also provide cover for many problems caused by tenants, such as damage to your property, eviction, unpaid utility bills etc
If you are interested in more information about the cover available please contact Franco at Hermanos Chorro brokerage, offering their clients peace of mind since 1969.
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