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Rental and insurance
Definition insurance
Tenant's insurance
The law requires the tenant to insure himself against the risks for which he is liable as a tenant, if he rents an unfurnished property under his main residence.
For other types of leases (furnished, commercial lease...), the lease generally requires the tenant to take out insurance covering his risks.
Namely : the tenant must justify that he has taken out the insurance at the time he enters the property, then every year.
Failure to take out insurance or to justify it may lead to the termination of the lease.
The lessor's insurance
For property in co-ownership, each co-owner has the obligation to insure himself against the risks of civil liability for which he must answer in his capacity as owner-occupier or non-occupant.
For other property, the owner is not obliged to take out insurance that covers damage that may damage the property. However, in view of the low cost of such insurance, it seems reasonable to take it out.
The lessor's insurance is generally called "PNO" insurance (Owner Non-Occupant). It may be useful to take out a guarantee that fully covers the property during periods when it is not occupied by a tenant.
Namely : for a condominium , the trustee takes out insurance covering the common parts of the building. Usually, this insurance does not guarantee all the damage that can be declared in the condominium lot.
The lessor can also take out insurance covering rental risks. It makes it possible to take care of unpaid rents and often damage caused by an unscrupulous tenant , or even the costs of a procedure initiated against the tenant.
Note: for a condominium, the trustee takes out insurance covering the common parts of the building. Frequently, this insurance is not enough to guarantee the damage that may occur in the condominium lot .
The law requires the tenant to insure himself against the risks for which he is liable as a tenant, if he rents an unfurnished property under his main residence.
For other types of leases (furnished, commercial lease...), the lease generally requires the tenant to take out insurance covering his risks.
Namely : the tenant must justify that he has taken out the insurance at the time he enters the property, then every year.
Failure to take out insurance or to justify it may lead to the termination of the lease.
The lessor's insurance
For property in co-ownership, each co-owner has the obligation to insure himself against the risks of civil liability for which he must answer in his capacity as owner-occupier or non-occupant.
For other property, the owner is not obliged to take out insurance that covers damage that may damage the property. However, in view of the low cost of such insurance, it seems reasonable to take it out.
The lessor's insurance is generally called "PNO" insurance (Owner Non-Occupant). It may be useful to take out a guarantee that fully covers the property during periods when it is not occupied by a tenant.
Namely : for a condominium , the trustee takes out insurance covering the common parts of the building. Usually, this insurance does not guarantee all the damage that can be declared in the condominium lot.
The lessor can also take out insurance covering rental risks. It makes it possible to take care of unpaid rents and often damage caused by an unscrupulous tenant , or even the costs of a procedure initiated against the tenant.
Note: for a condominium, the trustee takes out insurance covering the common parts of the building. Frequently, this insurance is not enough to guarantee the damage that may occur in the condominium lot .
Good to know
Tenants of official accommodation or seasonal rentals are not obliged to take out insurance. However, they are - like traditional tenants - also required to compensate the owner or his insurer if they are responsible for damage to the dwelling... So a civil liability guarantee is recommended.
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