Thinking of renting your property? Know the importance of the guarantee
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Loading... - Jeffrey McKay
- 29 Aug 2022
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The economic situation that the country is going through (as a result of external and internal factors), is affecting Peruvian families. In these cases, many people choose to rent rooms or homes as a family business.
However, care must be taken because today there is an increase in the levels of delinquency or non-payment of the monthly payments agreed by the tenants with the owners of the properties. According to Marybell Jara Cheffer, legal specialist at Linares Abogados, of the approximately 1,200,000 rents that are registered only in the department of Lima, some 300,000 would be in a situation of delinquency or non-payment.
According to Private Information Center for Delinquent Tenant Risk SAC, one out of every four people who rents a property in Lima is more than two months late in paying their rent. Can you imagine everything that may be happening in the departments of the country?
In Lima alone there are more than 1,200,000 rents in force and of that figure, 300,000 tenants are delinquent in their payments, that is, 25%, which is the highest rate. They are followed by San Isidro (10%), Lince (10%), La Victoria (8%), San Borja (8%), Surco (8%), Miraflores (8%). At the country level, Lima province (25%) heads the list of debtors, followed by Arequipa (15%), Trujillo (8%), Chiclayo (6%).
Importance of warranty
· It is an endorsement of the breach of its obligations: The specialist recommended that people include a guarantee clause in the lease contracts. This guarantee is a sum of money that the tenant agrees to deliver in favor of the lessor in support of the breach of its obligations, or also to sufficiently cover the damages that may be caused to the property by the tenant.
· Prevention measure: Although it is not mandatory to request or agree on a guarantee when renting a property, however, he explained that this is a preventive measure. “ The amount of the guarantee will depend on different factors, for example, the value of the property or it will be in proportion to the agreed rent ”, emphasized Marybell Jara Cheffer.
· Incentives to constitute the guarantee : He added that, although nothing prevents guarantees from being constituted later, the optimal thing is that they be required at the time the lease is concluded, given that, once the breach has occurred, the tenant will not have incentives to constitute the guarantee, and the lessor may not demand it without the consent of the former.
