Are you renting your house or apartment for the first time? It is important that you know the requirements that you must request from your tenant, in this way you will protect your property and avoid endless problems.
“The relationship between the landlord and the tenant has legal effects. It is regulated in the Civil Code and, like any legal relationship, it needs formality to be able to have security for both parties. For example: “Before letting anyone rent your property, you need to ask for all the documents and sign a one-year lease, which is the minimum time to celebrate it,” explains Ximena Corona, real estate consultant.
The importance of a contract
The contract requires certain formalities. For example, that it be between people who have legal capacity, that are over 18 years of age and that are in full enjoyment of their rights, that it be a lawful contract.
“What is in style is that there is a person who responds in the event that the tenant cannot and stops paying the rent, which is called joint and several obligor, who is asked for a real estate, free of encumbrances, although there are other ways through which the rent obligation can be guaranteed, such as a bond or signature of promissory notes, among others.
“In addition to the contract, in accordance with tax legislation and domain extinction, The tenant needs to have a file that allows the landlord to know that he will rent to a person who is not only economically solvent, but also engaged in lawful activities.” indicates Sergio Salgado Román, who is a lawyer specializing in real estate law.
The tenant must be asked for account statements, official identifications, bank references and, even, some people are even asked for the credit bureau history.
Previous investigation, documents in order and a contract are key when choosing a tenant. THE INFORMER/Archive
How many deposits to ask?
Being a relationship between individuals, what deprives in it is the agreement of wills. The landlord may set certain conditions to ensure that his rent will be covered.
“What is typical for real estate leasing is one month’s rent, in addition to the payment of one or two, even, in some areas, up to three deposits only for guarantee. This is not part of the income for the owner, but only for the purpose of covering the obligation in case of default”, adds Ximena Corona.
Let’s not forget that before, one month’s rent and a deposit were common, but currently, trials take too long. Therefore, owners have increased the requirements to protect themselves.
“If you do not have a contract and the tenant fails to pay, you have to sue. The Constitution and our legal system prohibit you from being able to remove the tenant on your own, but, since you do not have a contract, you must do some preparatory means for trial ”, Salgado Roman mentions.
“With this procedure, the next thing is to demand the non-compliance with the payment of rents and, consequently, the termination. What you are looking for is that they return possession of the property and that they pay you the payment of generated, expired and unpaid rents. It is a process that takes time.”
The length of time for a trial depends on many factors. For example, the papers that the owner and the tenant have, in addition, assess the workload that the courts have, but Today, it can take a minimum of a year and a year and a half to recover the property.
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