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What are the choices in the event you don't have a discover and wish to lease a property?

Right now, it's not impossible to rent a property if you don't have confirmation between your family and acquaintances. Consider these options and you can find a home that suits your needs.

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December
1, 2020

4 min read

This article was translated from our Spanish edition using AI technologies. Errors can occur due to this process.

The opinions expressed by the entrepreneur's contributors are their own.

Having a guarantor who takes responsibility can be difficult for many people. However, there are several ways without renting one. Arrendavit is the first option that you can turn to for renting a home based on your needs.

When renting a property, one of the main requirements that you will be asked about is having a person in charge of the operation. But if you don't have one, what happens? The real estate portal Propiedades.com has indicated what options are there if you don't have confirmation.

What is a guarantee?

The guarantee is a legal form that serves as a guarantee in the event that the tenant cannot pay the rent agreed in the contract. While this term can be confused with certainty, it is important to know the difference.

The General Law on Title and Credit Transactions provides for the concept of guarantee, which is commercial. On the other hand, the title of surety is regulated in the German Civil Code and offers the owner a declaration of surety.

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Federico Sobrino, Director of Infonavit, explains that the guarantee is a joint obligation with the payment of the rent and the delivery of the property at the moment the tenant cannot do it. Therefore, this person has to meet and fulfill the tenant's obligations.

It can be difficult for many people to have a guarantor to take on this responsibility. However, there are several ways to rent without notice.

The Infonavit alternative

Arrendavit is the first option that you can turn to for renting a home based on your needs. However, you need to take into account that there are a few requirements you must meet in order to receive this support from Infonavit:

As a guarantee, the amount of your sub-account must be more than 6 months rent

The monthly rent may not exceed 25 percent of your salary

The minimum term of your contract must be at least 12 months

Once your application has been approved and you have selected the property that you wish to rent, the institution will be responsible for paying the monthly payments. In this way, the payment discount is applied through payroll.

You can fall back on a bank guarantee

If you don't have an Infonavit sub-account or are not active, you can ask your bank for your guarantee. The financial institution will conduct a study to confirm your solvency.

Leonardo González, real estate analyst at Propiedades.com, suggests that this option comes in handy as a bank offers guarantees against payment differences. This enables you to have a proper rental agreement.

Image: Depositphotos.com

“Often this is not optional, but it is a mandatory requirement in order to proceed with the construction of the property. The guarantees also serve as a deposit in case the monthly payments are not made during a specified period, ”he emphasizes.

Leasing policy or bond

This option is requested from a surety company to cover rental costs in the event that the tenant cannot. The lessor uses this instrument to protect his assets.

To find out which company is best for you, you should check whether or not it is approved by the National Insurance and Bonding Commission. To consolidate this contract, you will need to pay the cost of the deposit, which depends on the value of the monthly rent and is a certain percentage. Like other editions:

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Right now, it's not impossible to rent a property if you don't have confirmation between your family and acquaintances. Consider these options and you can find a home that suits your needs.

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