Rent Policy - Legal Lease Policies.

The word Policy comes from the Latin Pollicitatio which means Promise, as well as a "Maintenance Policy" or a "Warranty Policy", where what they offer you is a Promise that they will repair or replace something if it breaks down... a Legal Policy is a promise of a legal service that a law firm is obliged to provide you for a certain period of time, usually one year.

A Lease Legal Policy has 3 main elements:

Prevention: Everything starts with an investigation of your tenant, in which we check that he/she has economic and moral solvency, as well as validate his/her documents and references.

Foresight: Subsequently, the appropriate legal tool is chosen for each risk profile, as well as the contractual guarantees that will be required.

Protection: Finally, after the signing of the contract, the firm remains vigilant and intervenes extrajudicially or judicially, if required, in the event of any incident.

As you can see, a Legal Policy is the best way to protect the owner and his patrimony in a leasing process, since it is the way in which you can assure that the person to whom you give temporary possession of the property has the economic capacity to pay the rent, but also that he has moral quality, which will greatly reduce the risk of having a bad experience with him.

Additionally, the services of the Legal Policy do not stop there, but the firm chooses the appropriate legal tools and guarantees for each prospect. It is not the same, for example, a person who has a stable job and income, as well as a good background, as another person who, for example, is independent and has very unstable income or problems in credit bureau.

Finally, and most importantly, the law firm that grants you the legal policy must keep an eye out for any situation that may arise during the lease period and intervene immediately when any incident occurs. This will prevent a small problem from becoming a big one and ending up in an unnecessary lawsuit. The law firm that provides you with the legal policy must provide you with legal services until the complete and total recovery of the property.

First of all, let's remember that depending on the firm or real estate company with which you contract this policy, it may vary both in prices and in the terms and situations it covers, as well as the services you want to hire. Generally they include the ones we will mention below:

Tenant profiling and screening

As we well know, it is essential to know to whom we are going to rent our property and in this case, the legal policy will help us with the investigation. In addition to making sure that the prospective tenant has the economic solvency to complete the lease contract and does not have a criminal record or any legal process that could compromise our integrity or that of our property.

Likewise, let's remember that having this information validated and verified about the tenants, will save us problems in case we have to initiate a process to recover your property, or even in an expropriation trial.

Collections

One of the main functions of the policy is to intervene in case the tenants are not complying with their obligations stipulated in the contract, therefore, the company behind our policy will be in charge of the whole process of extrajudicial and judicial collection in case there are debts, in this way, there will be no direct conflicts between landlords and tenants.

Also, depending on the policy, a direct debit service could be included, so that the rent is automatically charged to the tenant and you receive it every month in your account without any setbacks.

Legal advice

Depending on what is stipulated at the time of contracting the policy, there will be several scenarios that will be presented to you, where they will provide you with advice to resolve each situation that may arise to protect you against money laundering or forfeiture of ownership.

Attendance at contract signing

When contracting a policy, it should include the drafting of the contract and you will be assisted in the signing of the same. A trained lawyer will read and resolve any doubts and comments that may arise so that both parties feel safe and protected.

Recovery of the property

In cases where it is necessary to evict the tenants either because of a direct problem with the owners, considerable debts or any legal problem, the company where you contracted your policy will take care of the whole process and will remove the tenants from the property.

Recovery of overdue rent or unpaid services.

Depending on the company where you take out the policy, they may offer you a higher coverage, including not only the recovery of your property, but also the overdue rents or the services that the tenant owed.

As you can see, the legal policy protects us in many situations and above all, it gives us the peace of mind of being legally backed up in case of any mishap with our tenants, in addition to facilitating the process prior to the lease contract.

At Póliza de Rentas we offer you an integral service, with the support of highly qualified lawyers and with a 100% personalized service that assures you a good experience when renting.

Within the investigation roles, one of the most important parameters to consider is the investigation of the Credit Bureau.

The Credit Bureau shows us the different credits a person has and how he/she behaves with them.

Here we can see if the person is on time with their payments, how much they owe, amounts to be paid, how many credits they have (whether automotive, department stores, personal loans or credit cards), and in some cases, they also show us if the person has any lawsuits and the nature of these.

This report from Buró reflects these behaviors over the last three years, showing us month by month, a rating that determines the behavior with them.

The Renter's Policy is a type of insurance that offers real estate protection to tenants and landlords. This policy is often referred to as "renters insurance" or "renter's policy" and can cover various types of problems such as; vacancy, non-payment. Which we first address preventively by validating documents and references with a financial investigation.

The "Renter's Policy" is insurance designed to provide real estate protection for both renters and landlords. Sometimes referred to as "renter's insurance" or "renter's policy", it covers a variety of problems, from vacancy to non-payment. We take a proactive approach, validating documents and references with a thorough financial investigation.

In Póliza de Renta, eligibility is determined by several factors, including the type of property rented, the location of the property and the tenant's income. In general, any individual or family renting a residential property in Mexico is eligible for the Renter's Policy, however some individuals may sometimes represent a greater risk to the tenant as they may have debts in another building, community or location.

The application process for a Renter's Policy is simple and can be done online or in person. If you choose to go online, simply visit our website. Once there, fill out a form with your personal information, such as name, address and contact information. It is important to note that a real estate agency, landlord or even your own tenant can initiate the process with your authorization.

We accept: Bank deposit or wire transfer, Credit card, Cash, Check or PayPal.