• Estudio Alvarez Calderón

The new demands made by landlords to rent their homes

Fearing that tenants could take over the home they rent, landlords have been tightening their filters for the selection process. For many years people who rented their homes fell short when requesting information from tenants due to fear of people's reaction, but now that fear has dissipated considering that the landlord owns your property and seeks to take care of it. Thus, among the new requirements, landlords ask future tenants for their report from the risk centers to find out their credit history. If a person is in red and defaults on their credit card payments, it is a risk. If you already have a bad payment record, it is difficult for you to meet the rent.

Credit reports used to be used only for bank loan applications but now people who rent their homes are getting used to asking for them too.

Previous contacts and guarantees Another point that has been requested is the contact of the previous landlord to find out if the tenant complied with the established payment schedule or if he is leaving the property in good condition since this is an asset. I deliver the property in one way and even if they pay me a guarantee, for example 2 × 1 (two months of guarantee and one month in advance), that guarantee will not cover the damages that can be done to the property. The police record is also being requested by landlords, as it is presented when a person starts a new job.

In the case of the roommates, a payment guarantee is being requested, since in this case they are young people who are interns or are just entering the labor market. The request for the payment guarantee is due to the fact that the rental of rooms is given between 3 to 4 people and when one of them stops paying the rent, the remaining three must assume the fee. Letters of reference from work are also requested to call and validate that they are indeed working.

In 2019, Congress approved a bill on notarial eviction and it was subsequently enacted. This rule allows delinquent tenants who have at least two months of rent in arrears to be evicted from their homes, as long as said raid clause is included in the lease in order to recover the property for non-payment.

In this regard landlords have been opting for this type of contract, insuring their property against these tenants. The signing of this contract must be legalized and carried out between both parties (landlord and tenant) before a notary public or justice of the peace.

If they fail to pay more than two months, the owner goes to a judge and can automatically request the eviction of the property. It is not like before that these rules did not exist. There are people who have lived for 10 years and have never updated the contracts and what they do is a new year's addendum, but they have stuck with an old contract model. This is something important, knowing the laws that are to protect the owner of the property.

Within these contracts a clause is also beginning to be included in which it is allowed to periodically visit the rental property, in order to verify its conditions.

(Source: Gestion)

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