Rental Insurance takes another step in the professionalization and modernization of rentals by launching a pioneering service that consists of advancing the rent to the owners of the homes it manages.
Through the Banquiler brand, The company offers the possibility for landlords to advance the rent of their apartments from 12 to 36 months. with interests in line with the market. This is how he explained it to elEconomista.es the president of the company, Antonio Carroza, who points out that They already have committed “9 million euros of equitybut it will be more, since we are phasing out the raising of capital and we will surely resort to the securitization of collection rights.”
In the first phase, Banquiler, which will advance income through loan policies, will be operational for owners who have already entrusted the management of their properties to Rental Insurance, “but in the next we will also admit new acquisitions,” he explains. Float.
“The advantages offered by renting go beyond the flexibility provided by this housing model and we are going to launch services around this market,” highlights the president of the company. In this sense, he points out that “as a homeowner, having a constant income and also insured by Rental Insurance “gives you the possibility of having pre-awarded financing automatically.”
The money in your account in seven days
In fact, the firm already has analyzes carried out on both owners and tenants, so The granting of this income advance can be requested with the click of a button and the money will be received in just seven days. It is thus an almost immediate service that begins to compete with other financial products such as personal loans, with the difference that in the case of Rental Insurance it is not counted as a debt when requesting other bank financing.
“The amortization period exists as long as income is produced, Therefore, in times of tenant turnover or circumstances in which the home is no longer suitable for rental due to some accident or the completion of a renovation, a total interest-free deficiency will occur,” explains Carroza.
The manager points out that Tenant turnover does not concern themsince “since these are homes managed by secure rental, the average rotation time is just 15 days.”
In the pilot test that the group carried out this summer, “10% of our owners asked us for simulations and We have since had a 10% contracting of the service”, Carroza details.
The average amount of the contracts signed so far amounts to 11,568 euros with an average term of 18 months in advance. 72% of these have been signed in large cities such as Barcelona, Madrid, Seville and Valencia.
Currently, Seguro Rent, owned by the private equity manager Aurica Capital, It has a client portfolio of more than 20,000 ownersof which only 5% are large owners.
The company made the international leap in June 2021 with its entry into Portugal and now plans to cross the borders again to France and also establish itself in Latin America, where they see high growth potential.
2023-09-21 06:20:59
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