All us homeowners have been told that when we are unsure about the profile of our new tenant we could ask for a guarantee to rent my house in Marbella, but is this so easy to obtain?, will my new tenant be willing to give it to me?, will it cost them money ?, will it be easy for me to cash it if they do not pay the rent ?, can I can get my guarantee and then immediately start the eviction process? There are many types of bank guarantees, which one should I ask for?… all this raises many questions and puts a lot of stress on our new tenant, and most likely we will end up scaring them. Assuming they will accept, which is a lot to ask for … we will have to do it properly and not all of it will be to our benefit – but we will not analyze this here now.
As a piece of advice I will tell you that if you are negotiating a bank guarantee as security for the payment of the rent then it should be of this type: “payable on first demand with an express waiver of the benefit of excussio”.
In this way, the bank will have to pay the full amount of the guarantee as soon as they are notified on the existence of a debt. The benefit of excussio is a right of the guarantor by which the creditor is allowed to seize the goods found in possession of the debtor as a result of non-payment, and waiving this benefit means that the guarantor will have to pay the debt directly.
But as I already mentioned earlier, there are better guarantees than the bank guarantee. At Benarroch real estate, through our service specializing in long-term rentals named Peace of Mind Rentals, we provide you, homeowner, with options which are less aggressive for the tenant are more effective for the owner – so, what are you waiting for? Contact us now !
18 Nov 2014