Landlords in Spain Get Covered

News Date: lunes, 05 de octubre de 2009

Landlords in Spain Get Covered
Landlords in Spain Get Covered

In recent months many ex-pats have had no other option but to walk away from their homes and investments, as they could no longer keep up the repayments to the banks. Sad, but nevertheless, a true reflection of the times we are currently experiencing.

There are however the lucky and perhaps more savvy individuals who have been in the fortunate position to be able to return to the UK or often other destinations, whilst renting their properties out until the waters calm, hoping to eventually return or sell the property on at a later date.

Of course there is always going to be a flip side to renting, one being the danger of obtaining ‘bad’ tenants, which can provoke eviction processes being enforced. Not forgetting that with the number of people losing their jobs, its not surprising that some tenants are simply ‘upping and leaving’, despite long-term contracts being in place.

In light of these current trends, companies have found a niche in the market to assist landlords with events such as those mentioned above. These companies are reported to offer protection in an attempt to stop landlords falling in to financial hardships due to circumstances beyond their control, such as defaulting tenants.

Many landlords are now seeking advice regarding the different mechanisms available to them and implementing these into their rental contracts in order to protect themselves, should their tenant default in any way.

There are a number of schemes currently available, specifically targeted at ex-pats, offering rent protection and legal expense warranties.

It may be fair to therefore say that protection such as this is perhaps a small, but worthwhile investment to make, even at a time when we are becoming prudent about ‘any’ sort of investments.

Spanish Rental and Property News by News Desk

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