Sènia del Barral 63

17310 Lloret de Mar

+34 972 367 436

Sunday & Monday : CLOSED

Rent Default Insurance for Landlords: Peace of Mind When Letting.

Letting out a property can be an excellent investment opportunity, but it often comes with uncertainties.

Indeed, landlords seek security in their tenancies and wish to avoid problems such as rent default or property damage. Therefore, this is where MGS Rental Protection becomes your best ally, offering you comprehensive cover so you can let with complete confidence.

This insurance is designed with the landlord’s needs in mind. Its main objective is to protect you from tenant non-payment and the complications that entails.

Furthermore, it provides you with great peace of mind knowing that your assets are safeguarded.

With MGS Rental Protection, you’ll enjoy several advantages. For example, some of the most notable are:

  • Guaranteed Rental Income: Receive payment for your rent for up to 18 months, and even an advance on unpaid rent. This is crucial for maintaining your financial stability.

 

  • Unpaid Utilities Covered: Don’t worry about electricity, water, or gas bills that the tenant leaves unpaid. Therefore, this insurance takes care of it.

 

  • Selection of Solvent Tenants: A fundamental step is ensuring the tenant is reliable. As a result, MGS helps you with this process to minimise risks from the outset.

 

  • Less Vacancy, More Profitability: By offering a rental without the need for a guarantee, you attract a greater number of potential tenants, which leads to fewer periods without the property being occupied and, therefore, greater profitability.

 

  • Vandalism Coverage: If vandalism damage occurs to the property, you’ll be protected, even if it’s related to non-payment.

 

  • Loss of Rent Due to Incident: If the property becomes uninhabitable due to an incident, this insurance covers the loss of rental income.

 

  • Lock Change: In the event of a claim or eviction, the cost of changing the lock is covered.

 

  • Expert Eviction Management: A specialised team will handle the entire legal process, freeing you from a heavy burden.

 

  • Tax Advantages: This insurance is tax-deductible on your income tax, which means an additional benefit for your pocket.

 

  • Telephone Legal Assistance: Always have legal advice on hand, including issues related to illegal occupation.

 

  • Coverage for Illegal Occupation: This insurance goes a step further, covering damages, utilities, and lost rent due to an illegal occupation.

It’s natural to have doubts when taking out such an important insurance policy. That’s why we’ve answered some of the most common questions here:

  • First off, let’s look at the requirements for taking out rent insurance. Generally, you’ll need a tenancy agreement (with a minimum duration of one year) and for the tenant or guarantor to be able to prove their income.

 

  • Furthermore, does it cover damage caused by the tenant to the property or its contents? Yes, in most cases, this insurance includes cover for vandalism or damage to the home’s contents related to non-payment.

 

  • Finally, what’s the insurer’s payment period after a claim? Payment for unpaid rent is made as stipulated in the policy, once the claim has been initiated.

 

  • Is there an excess period in the rent policy? Yes, there’s usually an initial waiting period from the signing of the contract. It’s crucial to check your policy for the specific details.

 

  • What’s the excess in this insurance? The excess is a fixed amount that usually equates to the rental deposit or one month’s rent. It’s the amount that isn’t covered by the insurance before it kicks in.

If you’re thinking of renting out or already have a tenanted property, then now’s the ideal time to insure your investment.

Get up to a 35% discount on your MGS Rental Protection policy. This offer is valid until 30 June 2025!

Don’t let worries keep you awake at night. With MGS Rental Protection, you’ll have the peace of mind you need to enjoy your property without any nasty surprises.

At Gabinet Senia, we’re committed to the health and safety of your pet.

If you’d like to find out more about the MGS Rental Protection policies, our Exclusive MGS Insurance Agent, Marc Piña, will offer you different solutions so you can enjoy your pet’s unconditional love with the peace of mind of knowing they’re protected.

Discover our special offers. This promotion is valid until 30th June 2025.

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PRIVACY POLICY SUMMARY

We detail the treatment of your data:

View our Privacy policy
  • Purpose: Respond to your inquiries and / or requests.
  • Conservation period: As long as the consent given lasts.
  • Legitimate basis: The consent of the interested party.
  • Data typology: Merely identifying data.
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  • International transfers: Not foreseen.
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