The landlord's insurance
For a property owner, who, like you in the context of their rental investment, is renting out their property, what are the obligations and best practices regarding insurance?
Let yourself be guided: we inform you and recommend the best.
An update on home insurance 🏢
The Guaranteed Rent Insurance (GLI) 👇
Applicable outside seasonal rentals, GLI is not mandatory but offered by many insurance companies.
It enhances security for the landlord by compensating for unpaid rent and even certain damages caused by tenants. It can also indemnify them in case of premature departure and disputes or litigation.
As mentioned, if you opt for GLI, you cannot request a guarantor.
Good to know: there is an Action Logement mechanism that allows the landlord to benefit from a rental payment guarantee without having to subscribe to it. This is the Visale guarantee granted to certain tenants to facilitate their access to rental housing.
Our recommendation: garantme
Non-Occupant Owner Insurance (PNO) ✉️
It covers both the housing of the non-occupant landlord and the risks associated with rental activity:
On one hand: fire, water damage, lightning, glass breakage, etc.
On the other hand: liabilities towards tenants and co-owners if applicable, legal protection and guarantees in case of unpaid rents.
In reality, the mandatory aspect only concerns the landlord's responsibilities towards tenants and potential co-owners, which can simply be covered by a Civil Liability. But let's say that the PNO is much more comprehensive, hence more secure.
For collective housing, one thing still needs to be checked: ask what guarantees are provided by the contract of the property management company of your building. It may be that some personal provisions are not necessary...
Our recommendation: luko
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