What compulsory insurance for a lessor: essential guide

As a specialist in legal law, I am delighted to share with you my knowledge on compulsory insurance for a lessor. During my years of practice, I have often found that many owners were asking themselves crucial questions on this subject. Let me guide you through the subtleties of these insurance obligations, which are essential to protect your interests and those of your tenants.

Civil liability: the essential insurance of the lessor

The Alur law of 2014 marked a turning point in the field of rental real estate. In particular, it has established the obligation for owners lessors of a condominium property to take out civil liability insurance. This measure aims to protect owners from any damage caused to third parties.

Here are the key points to remember about this insurance:

• It covers the material and body damage caused to others
• It applies to the common areas of the building
• It completes the insurance subscribed by the syndicate of co -owners

I have often seen owners neglect this obligation, thinking that the insurance of the condominium was sufficient. However, this is an error that can be expensive. I remember a client who had omitted to take out this insurance and found himself in a delicate situation following a damage of the waters that affected the apartment below.

Home insurance: recommended but not compulsory

Contrary to popular belief, home insurance is not compulsory for the landlord. But, I highly recommend it to all my clients. It offers additional protection against various risks such as fire, water damage or theft.

Multirisk insurance of the tenant

If the lessor is not required to take out home insurance, the tenant has the legal obligation to ensure. This insurance, called a multi -risk home or rental risks, protects housing against possible damage. As a lessor, you have the right to request an insurance certificate from your tenant when signing the lease.

Non -occupying owner insurance (PNO)

To complete the insurance coverage, I often advise my customers lessons to take out non -occupying owner insurance (PNO). Although not compulsory, it fills the potential gaps in the tenant’s insurance.

Additional protections: secure your rental investment

Beyond the basic insurance, there are other options to further secure your rental property. These complementary protections can be precious in certain situations.

The unpaid rent guarantee (GLI)

Unfortunately, unfortunately a reality that many donors are faced. The unpaid rent guarantee (GLI) is optional insurance that can protect you against this risk. It usually covers:

• Unpaid rents
• Procedural costs in the event of expulsion
• Rental degradations

I saw this guarantee save the financial situation of several of my clients. It brings a real tranquility of mind, especially for owners whose property represents an important part of their income.

Special cases: furnished and seasonal rentals

For furnished or seasonal rentals, the rules differ slightly. The owner has the possibility of ensuring the accommodation himself. It is an interesting option, especially for the property rented on short durations where the management of insurance of the various tenants can become complex.

Distribution of responsibilities

It is essential to understand the distribution of responsibilities between owner and tenant. Here is a summary table:

X

This clear distribution of responsibilities avoids many disputes. I always advise my clients to detail it in the lease, in particular for commercial rentals where the distribution of charges and work must be precisely stipulated.

Prevention and management of claims

The prevention of claims is an often neglected, but essential aspect in the management of a rental property. Being the lessor, it has every interest in implementing preventive measures to minimize risks.

Here are some tips that I regularly give to my customers:

1. Make regular visits to the property (in compliance with the rights of the tenant)
2. Carry out the necessary maintenance work without delay
3. Inform the tenant of good practices to prevent claims
4. Keep all documents relating to good and insurance

In the event of a claim, it is the insurance of the responsible person who will take charge of compensation. Hence the importance of having suitable and up -to -date blankets. I saw too many situations where an owner was embarrassed for lack of properly assured his good.

Do not forget: the best insurance remains prevention. A well -maintained property and well -informed tenants are the best guarantors of a serene rental.

Finally, being a lessor owner implies important responsibilities for insurance. While some are compulsory, such as civil liability for condominium goods, others, although optional, are highly recommended for optimal protection. Do not hesitate to consult a professional to adapt your covers to your specific situation. Your peace of mind is priceless.