Requirements to rent a House: Payment methods, Documents and MORE

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If one day you want to temporarily assign or acquire the rights to a house in exchange for a sum of money and specific conditions, then you will need to be up to date with the Requirements for leasing a house. By 2019, 34% of the Colombian population lived in this way, so these are very important when generating a lease, so that both parties can enjoy the benefits of it.

In this opportunity We will discuss not only these requirements, but we will also specify which situation applies to an employee and to an independent person. Next, the documents that must be presented, what exactly is rental insurance and what payment methods do you have?

Requirements to rent a House

There are a number of requirements that you must fulfill at the time you want to lease a real estate. This guarantees a transparent, legal and satisfactory process for the parties that make up the possible transaction.

Let’s see what they are, in general lines:

  • The first requirement is to know if the house is available. You can do this by contacting the real estate or tenant in charge.
  • Then, in case of availability, the insurer of the real estate will send you a Form of Lease Request, which you must fill out. This in case there is lease insurance.
  • Once the form has been completed, you must make the corresponding initial payment. This will be indicated by the insurer, as well as the financial entity in which you can carry out the procedure, and it depends entirely on the characteristics of the house.
  • In the event that there is no rental insurance, it will be the tenant who submits the necessary documents until a contract is created.
  • Finally, you must wait for the response to your request. And ready!

On the other hand, there are a number of specific requirements depending on whether it is the tenant or the lessor.

Lessor

In the case of the person who transfers the right to the house, they must present with mandatory validity:

  • Certificate of Habitability, very important when validating the space as a house and not a premises.
  • Housing Energy Certificate, issued by the competent authority, where the energy quality of the space is evidenced.
  • Others documents, such as the title of ownership of the house, where you can see the legality of the house.

Lessee

If you are the one who pays for the right to use the house for the established period, you must present:

  • The Leasing contract signed and sealed. In this you will appear committing yourself to comply with the conditions specified therein
  • Delivery of the Lease Request.
  • Other documents that certify the economic profile, to certify the ability to pay the rental amount.
  • Pay rental fee. For 2020, this may be increased up to 3.8% for those contracts that expire 12 months in force in the year, in accordance with Law 820. In addition, depending on the value of the canon, you must present one (1) or two (2 ) co-debtors with certified income of twice the amount or with real estate (this depends on each case).

The answer must be given as soon as possible. This is generally the same day that all duly signed and certified documents are presented. Once verified, and in case of an affirmative answer, the contract will be signed and the corresponding payments will be made.

IMPORTANT: As a landlord, it is always important to know who you are offering the lease to. Therefore, if you are not affiliated with a real estate agency, it is necessary:

  • Check the background, which you can do through the web branch of the Judicial Power. You just have to click here.
  • Establish a thorough contract in all its points, so that there are no misinterpretations. This must be signed before a notary.
  • Request the Work contract of the lessee and a guarantee.
  • Request background certificate and Dicom.
  • Ask checks documented at the time of payment.

If you are an Employee

To work for some entity or person in exchange for a salary, then you are a employee. In this case you must deliver the following requirements to rent a house:

  • Identity card. This must be increased to 150%.
  • Account statements of at least the last three (3) months.
  • Payroll statement of the last ninety (90) days.
  • Original from Work certificate valid for less than one (1) month.
  • If required, income statement and co-debtors. These must have an income of at least double the canon.

If you are independent

It is considered a independent worker to that person who offers their goods and services to the public, without having a relationship with a company. These will need the following requirements to rent a house:

  • Copy of the Income Statement.
  • Copy of RUT.
  • If required, Chamber and Commerce Certificate.
  • Account statements of the last ninety (90) days.
  • Freedom of tax current, if necessary.
  • Certificate of Tradition and Freedom, to know the legal data of the house.
  • Other documents specifically required by the landlord.

Necessary documents

Now, in general, the documents that you must present are:


  • Identity card.
  • Account statements of the last te (3) months.
  • Leasing contract.
  • Lease Request Form.
  • Copy of the Income Statement.
  • Copy of RUT.
  • If required, Chamber and Commerce Certificate.
  • Account statements of the last ninety (90) days.
  • Freedom of tax current, if necessary.
  • Certificate of Tradition and Freedom, to know the legal data of the house.
  • Payroll statement of the last ninety (90) days.
  • Original from Work certificate valid for less than one (1) month.
  • If required, income statement and co-debtors. These must have an income of at least double the canon.
  • In the case of a legal entity, financial statements certified by a public accountant.
  • In case of being a pensioner, proof of payment and account statements.

What is Lease Insurance?

Basically the Lease Insurance It is an option that the owner has to take care of the breaches of the contract that the tenant could carry out. In this case, the insurance would pay the landlord for rent, utilities, administration, and any damage done to the home.

The owner of the house is the one who must request the insurance, which will be in charge of evaluating the tenants to know the risk of each one. For this, the insurer will use information on the ability to pay, credit history and bank and commercial references.

This has a duration of one year, but it can be renewed, and its cost depends on each insurer.

What does it cover?

  • Lease Agreement.
  • Payment of more than 30 months of rent.
  • Legal costs in case of breach of contract.
  • In some insurers: public services, administration and home assistance.

Requirements to purchase rental insurance

  • Lease application form.
  • Payment of the rights to carry out the contract.
  • Two guarantors, where at least one (1) of them with real estate.
  • Copies of Account Statements.
  • Citizenship card.
  • Work certificate.
  • Certificate of Freedom and Tradition.
  • Purchasing capacity to pay for the policy.

Where can I buy it?

The Lease Insurance It can be requested directly with the insurer, through a real estate agency and through the internet. In the case of real estate, it is necessary to consign the house so that it can contact the insurer.

Important! There are payments and requirements linked to the rental fee that you must cancel.

Payment Methods to rent a House

Generally the payment methods They are agreed between the tenant and the landlord through the lease. The tenant can prepay a few months of the rent as a way to ensure its reliability and the landlord avoids arranging the rental insurance.

Knowing what payment methods you have at your disposal could also be considered one of the requirements to rent a house. However, whatever way you cancel your first months, the payment methods to do so are:

  • Cash:

A specific date or deadline can be set with the tenant so that you know when to cancel, and thus be able to wait for him to present himself. This is the most common way to pay your rent and is at the discretion of the parties whether it is done in national or foreign currency. Of course, depending on the amount of the lease, it will be easier or more difficult to pay it in cash.

Of course, it is important to note that this is in the event that the collector is a natural person. In the case of being a bank or companies, you can only pay in cash up to a certain amount.

  • Transfer:

You can also access your preferred bank and transfer the amount owed to the tenant. This is a great advantage and is that you can do it at any time, from wherever you are.

Many banks have an app, so it could be made even easier by being able to make the transfer with your phone. Even if you are on the last day of payment, many banks have the option of sending funds spontaneously, mobile payment. With this service the lessee will be able to dispose of their funds immediately.

As if that were not enough, you will not need to ask for a receipt either, as the transaction is automatically registered in the bank.

  • Automatic transfer:

You can access the automatic transfer service, so that the amount is transferred on the indicated date every month, without having to do anything. You just have to have the amount available and voila!

Rent a house!

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