insurance for rent payments

[steve]

hi has any one experience with such insurance, we are going to let a house unfurnished for 3 years but have the worry of potential trouble with the tenant ie, non payment of rent and legal proceedings. have been told about an insurance policy that covers such things .maif assurance do this insurance that covers non payment etc for about €95 a year i think its an essential thing to have has any one used it or advice ? ta

[NormanH]

One point.

This can insure non-payment of rent, but it does not insure that the tenant stays.

The tenant can give three months notice at any time during the three years.

[Bobdude]

I think that €95 a year sounds remarkably cheap compared with what we paid with Credit Agricole, but I can't comment on whether it is for the same cover or not. Before the tenancy begins you must obtain from the tenant copies of their employment contract, identity cards, latest 3 months payslips, their last avis d'impots, and most important, ensure that the monthly rent does not exceed one third of their monthly income. It is common to ask for a guarantor for tenants in France, especially if they are on a limited income, and if you do take a guarantor (cautionnaire) then the insurance policy will be null and void. Fortunately we have never needed to find out how effective the policy would be in the event of problems!

[idun]

Look at the ANIL web site, there is lots of info on there. You will see what is expected of the landlord and the tenant.

Lots of stuff on this too.

http://vosdroits.service-public.fr/particuliers/N19808.xhtml