The visale guarantee has certain advantages and disadvantages to consider when you rent a property. Indeed, it is a form of guarantee against unpaid rent, but also against potential damages during a rental contract. On paper, it remains particularly advantageous, but it is necessary to understand how it works to avoid unpleasant surprises.
How the visale guarantee works
You are looking for an insurance against unpaid rent and you are thinking of subscribing to it. You should know that the visale guarantee replaces the GRL (Guarantee of Rental Risks). For the owner, it is an undeniable advantage to carry out a lease much more serenely, because the risk of unpaid rent decreases accordingly.
On your side, you put your accommodation in rent, without passing by an agency for its management. Thus, the risks are absolutely not negligible on the fact of falling on a defaulting tenant. From the moment he does not pay his rent, you could encounter certain difficulties. It is exactly the same case if your dwelling has been damaged.
To avoid this unfortunate situation, you can ask your tenant for a security deposit. But also take out insurance against unpaid rent. Thus, you have a guarantee on the rent as well as on the rental charges during the whole duration of the lease. The insurance covers a period of 36 months of unpaid rent and 9 monthly payments for social housing.
But as explained previously, you also have an additional guarantee for damage to the property. Of course, this is a difference between the initial inventory of fixtures and the inventory of fixtures at the end of the rental period. The visale insurance covers up to two months of rent.
What are the advantages of the visale guarantee for the owner ?
For the landlord, there are many advantages. First of all, the visale guarantee allows to take charge of possible unpaid rents and this for a maximum period of 36 months. If ever legal proceedings have to be taken, the visale guarantee also covers rental damage.
The guarantee contract is carried out quickly and the procedures are particularly simple. It is a free and reliable service and you benefit from certification by a reference organization, namely Action Logement. Therefore, the visale guarantee is a particularly valuable service for the landlord, as it is free.
What are the disadvantages of the visale guarantee ?
On paper, this guarantee covers unpaid rent and damage. However, you should know that the conditions for obtaining it are particularly strict. Thus, the visale guarantee is exclusively reserved for certain tenants. This is due to their income, their professional situation, but also to their age.
The first disadvantage lies in the specific conditions of the accommodation. First of all, the apartment or house must be located on French territory. The accommodation must be privately rented, without any agreement. However, it can be rented empty or furnished. Apart from the specific framework of a mobility lease, it is necessary that the property directly concerns the tenant's main residence. Finally, it must comply with the departmental health regulations and be considered decent.
If the rental is for a person between the ages of 18 and 30, it can be in a hostel or university residence.
But there are also specific conditions in relation to the lease. The latter cannot be concluded with one of the owner's family members. A termination clause must also be included in case of unpaid rent. Otherwise, Action Logement will unfortunately not be able to apply the visale guarantee. An individualization is also required in case of collocation.
The amount of rent cannot exceed 1300 € in metropolitan France and 1500 € in Paris. This amount will include the rental charges. The lease must be set up after obtaining the agreement of the visale guarantee.
Steps to take to benefit from the visale guarantee
First of all, you should know that the process is entirely free and you do not need to go anywhere, as the application is made online. To do so, the tenant must go to the visale.fr website so that you can obtain a visa number certified by Action Logement. This is a unique number that will be useful in the constitution of your file.
Thus, you create your account in order to have a personal space and remember that this step must imperatively be done before having rented your property. Once your account is created, you must ensure the validity of your potential tenant's visa. This is necessary to verify the visa number of your tenant. Then, you will have to fill in all the characteristics of your property.
Once you have completed these steps, you will be issued a visale bond contract. This is when the lease can be signed, with a guarantee against damage to the property and unpaid rent.
The complexity of unpaid rent
The management of unpaid rent can sometimes be complex. Indeed, Action Logement systematically favors social treatment over litigation. As a result, delays are drastically increased and sometimes the procedure can take several years. So, when you are in a hurry to evict a tenant who is a bad payer, do not be surprised by the delays.
This is a real opposition with a traditional insurer, who will have every interest in undertaking an extremely fast procedure to evict the tenant. In this way, it greatly limits its losses. The visale managers do not have exactly the same concerns and therefore the incentives to accelerate the procedure are still few. On your side, you have anyway the guarantee of the rent, but you are not necessarily serene, because you still have a tenant of bad faith in your housing.
Why is it better to trust the Upperkey agency?
The risk of unpaid rent is undeniably a significant risk for a landlord. For your part, you're looking for a rental management specialist because you don't have the time to manage a tenant. However, you do not want to put yourself in financial difficulty by suffering damages to your property.
Indeed, it is absolutely important to scrutinize the file of the different candidates and to retain only those presenting a minimal risk. This is the job of the Upperkey agency, which is undeniably specialized in vacation rentals. Whether you use specialized rental platforms or not, the Upperkey concierge service will be indispensable for the proper management of your various properties.
As a result, you no longer have to worry about the visal guarantee, as the agency takes care of everything.
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