Requirements
What has to be in place
Three things govern the cover: the tenant, the lease and the inventory of condition.
The tenant
- A monthly net income of at least two guaranteed rents.
- A stable situation: income above three guaranteed rents, a permanent contract of over a year, a permanent contract of under a year past probation, or a pension.
- Failing that, a joint guarantor who is tax resident in Luxembourg with a net income of at least four guaranteed rents.
- Tenant already in place: no arrears, and no payment incident over the last three months.
The lease
- A lease compliant with Luxembourg law in force.
- A property located in the Grand Duchy of Luxembourg.
- Residential use. Business premises are excluded, apart from office and liberal professions.
- No legal or family connection between you and your tenant.
The inventory of condition
- An inventory drawn up when each tenant moves in and moves out.
- Agreed between both parties, or drawn up by a bailiff.
- If none exists when you apply, the company appoints an expert to draw one up.
What cannot be insured
Sublets, seasonal lettings, precarious lettings, lettings to a relative, property outside the Grand Duchy, and leases that do not comply with the law.
The documents to have ready
- A copy of your ID card.
- The signed lease.
- The entry inventory, agreed between the parties or drawn up by a bailiff.
- Proof of the tenant's income: payslips, employer attestation, tax assessment or pension statement.
- Where applicable, the deed of joint guarantee.
- For a tenant already in place: the statement of their rent account over recent months.