Although it is not ideal to rent a property linked to a mortgage loan of the National Institute of Housing for Workers (Infonavit). Within the contracts issued by the institute, in the FOVISSSTE or in banks it is usually stipulated in a clause that the house is not allowed to be rented until the loan is paid.
Although it is not allowed, we can observe that it is a very common practice in people who have a home loan Infonavit, where they end up renting, since borrowers prefer the idea that the credit “pays itself.”
It is important to mention that the Infonavit If you see the possibility that the property is put up for rent, but to do this the borrower must comply with some legal requirements and prosecutors.
What should I consider when renting an Infonavit home?
Specifically it has to do with related issues such as hiring insurance, making the corresponding payment of taxes and having a set of documents in order. Likewise, you have to be up to date with the payment of services for your house, be registered within the respective tax regime and, most importantly, not be late in your credit contributions.
Despite all these regulations within the activity for the rental of a property, there are several rental homes that continue to handle this practice in an irregular way.
Although the Infonavit realize any of these inconsistencies, the measures that could be taken would be against the borrower and not towards the tenants, therefore, if you think it is easy to charge other people to make the payment of your credit without taking the respective care, you could face the consequences it would entail.
Considering the previous situation, it is good to notify Infonavit in advance that your intention is to sublet so that they give you their consent once the established requirements have been met.
You must understand that it is not common for the institute to give the go-ahead to this type of activity, since the high levels of debt in approved loans make it unprofitable to be authorized.
Although, this body will not act against tenants, in the event that you fall behind with payments, it will proceed against the irregular borrower with a claim on the credit of your mortgage, which could ask you for the early expiration of the credit.
What are the requirements to rent your home?
Infonavit wants you to notify it when you will rent a property, in which you must make a contract where it is established, request an endorsement from your tenant and formally present the documentation.
The papers that they will ask you for are original and a copy of your official identification, CURP, original and copy of the birth certificate, original and copy of the marriage certificate if the home was acquired with a couple’s credit. In addition, you have to request more information and formats required to complete the process at the Infonavit offices.
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