Alejandro Blé Maldonado I Marketing Manager Lately we have heard the term legal policy to enter into a lease contract, and it can cause us doubt and uncertainty, but here we tell you what it is. It is the guarantee that the person who is going to rent a property hires, and this is responsible for protecting the owner in case the tenant fails to comply with any of the obligations agreed in the lease and / or the tenant in case of hidden defects, anticipated contract recession without apparent cause and serves as a substitute for a guarantor. In most cases, the legal policy is a rental requirement for your safety and protection of your assets. Before entering into the contract it is necessary to have her. For its processing, an investigation is carried out, the tenant’s documents are verified, such as: proof of tax identification, CURP, proof of income, bank and personal references, and where appropriate, the data of the last landlord. Likewise, identity and payment capacity are validated. Some of the requirements that both parties must meet to obtain it are: valid voter credential or official identification, proof of address, general data of the property, lease application prepared, constitutive act in case of being a legal person and power of attorney of the legal representative in its case and in the case of the owner, the document that proves ownership. We know that at this point you are asking yourself the most important question: What is its cost? This will depend on the amount of the rent. However, in rentals below $ 10,000, the investment can be approximately $ 6,000, but it will also be subject to the type of policy chosen from the two types: Traditional or Plus. The payment is usually made by the tenant, however on some occasions, an agreement can be reached for each party to pay 50%. This policy can be contracted in various companies that offer this service, mainly law firms, and it is valid for one year or for as long as you decide to renew your contract. So you already know what a legal policy is and its benefits, so we recommend you consider it in the expenses that you will make when looking for and hiring a property to rent. Remember, it is an investment that can save you a lot of headaches. If you have more questions, seek help from real estate agents and advisers, they will give you all the support you need. *** Visit our site to learn more about our properties Also check out our blog for more articles About Coldwell Banker México: Master real estate franchise in Mexico, focused on creating leaders in the real estate brokerage sector. With independent operation offices that support and advise the interested party in the purchase, sale or rental of properties in Mexico. https://www.coldwellbanker.com.mx/ Follow us on Facebook Instagram YouTube