SANTO DOMINGO.- Within the framework of the new Law 85-25 on Real Estate Rentals and Evictions, SURA Insurance announced "Rental Guarantee", to protect the monthly income of landlords against non-payment by their tenants.
A press release explains that it includes monthly rent protection, reimbursement of common expenses and basic services, coverage for damage to the property and 24/7 property assistance.
"These coverages not only protect the owner's income, but also provide peace of mind to the tenant, knowing that they have access to specialized support services and legal advice in case of emergencies, strengthening the relationship between both parties," the document says.
He adds that, according to estimates, more than 1.2 million households in the Dominican Republic live under rental contracts, representing approximately 42.5% of occupied housing.
"Furthermore, the rental market has shown sustained growth, with cumulative price increases of up to 434.8% between 2019 and 2022, which has increased the pressure on landlords and the need for solutions that mitigate the risk of non-payment," he highlights.
It highlights that by reducing the risk of non-payment and facilitating legal eviction processes, the product stimulates real estate investment, especially in established residential areas where renting represents a key alternative for thousands of families. Furthermore, it simplifies rental risk management, which can accelerate the development of new residential and commercial projects.
The press release states that in emerging markets, rental insurance has proven to be a key tool for reducing delinquency, increasing property profitability, and protecting landlords' assets. The arrival of Garantía de Alquiler marks a turning point in how rental agreements are managed in the Dominican Republic.
