Home insurance against damage to rental houses
When we buy a second home, offering our house for rent is a good option to earn income. In other occasions we acquired a house to destine it exclusively to the rent and therefore, to make our investment profitable.
Housing is one of the most precious assets. By taking out home insurance we guarantee our peace of mind in the event of any incident that may occur. In this article we tell you all the advantages of having a home insurance in case of rent.
Most frequent faults of rented dwellings
One of the most common disputes in rented housing is the responsibility of the costs of a breakdown. The tenant has the right to have the house in perfect condition and must notify the tenant in case any repair or improvement is necessary. The following breakdowns are among the most frequent of rental apartments:
– DIY Works
They are small repairs caused by the wear and the use of the facilities. The tenant must take care of them since he is in charge of taking care of the floor at that time. If you do not take care of these small damages, the amount of damage of the deposit will be deducted at the end of your rental agreement.
– Faucets and water leaks
Water losses are caused by faucets or tanks in poor condition due to a failure in the sealing gasket. In this case the landlord is responsible for the repair and should contact a professional if necessary. If the fault is due to misuse, the tenant must take care of the repair.
– Problems with electrical installation
Electrical breakdowns are also quite common. The contracted power must always be checked to avoid overloading the electrical circuit. It is the responsibility of the owner to check the electrical installation to avoid any incidents.
– Failure of household appliances
The faults in electrical appliances are one of the most common faults communicated to home insurance. The tenant must carry out a good maintenance of the same and take over the repairs should it be necessary.
– Faults in the electric thermo
Damage usually occurs at age five, at the end of the life cycle. The owner must be properly maintained to avoid leaks or breakage once a year.
Other damages are also common in the continent of the house such as breakage of the floor, damage to the paint on the walls, pipes … etc.
The owner is in charge of the repairs that are derived from a poor maintenance or a bad condition, but it is the tenant who is in charge of making good use of them.
How does your home insurance protect you from damage to rental housing?
To provide greater peace of mind to rental housing in home insurance, specific coverages are included to protect homeowners.
The coverage of damages and vandalism protects us from the deterioration of furniture, vandalism or robbery of the continent. In this way, the insured’s home is protected by a maximum amount set by the companies. In case of damages an expert will be responsible for checking the state of the housing to respond to the corresponding compensation.
In case the damages caused prevent renting the house during a period of time, the company takes care of the loss of rent. This warranty extends during the period that the house is disabled but with a temporary or monetary limit set by the company.