More than 30% of Colombians live on rent, according to Fedelonjas. This is approximately 17 million people. However, the resulting citizens are not always able to sign a lease in the face of barriers such as the co-signer or not having financial solvency.

(Read: How it was before and how it is now the lease law in the country).

Generally, when renting a property, clabor certifications or income statements, bank statements and a photocopy of the identity card. With these documents, the insurance will know your economic solvency

Likewise, in the country, it is common for both the real estate agencies that manage the property, insurers or owners to demand a co-debtor or guarantor who has real estate and present a certificate of Tradition and Freedom of the property.

Options when looking to rent

In principle, Law 082 of 2003 prohibits the use of insurance guarantees. That is, you cannot ask a person for extra money to secure the lease. «Yes, we can talk about guarantees for the payment of public services, but that is something else.«, explains Martín Monzón, general director of the Finca Raíz portal.

(In addition: Who must be responsible for damages and repairs to the rental property).

The insurance companies carry out a preliminary study of the lessee to see the feasibility of the contract. the insurer It will determine if it can be leased according to the level of risk sought.

«In the event that there is no co-signer, guarantor or others, a more expensive insurance policy can be requested and that helps to reach a rental agreementMonzon explains.

Other ways to demonstrate solvency is that the rental fee does not exceed a certain percentage of the monthly salary received by the landlord.

Documents required to sign a lease

According to the Finca Raíz blog, these are generally the documents that are requested to sign the lease. However, under certain conditions:

employees: Current labor certificate (no more than 30 days), payroll slips from 3 to 6 months, income statement if applicable, bank statements at least 3 and photocopy of the citizenship card.

(Keep reading: Pros and cons of renting a property with real estate or directly).

Independent: Updated RUT, income certificate, income statement, bank statements of the last 3 months, company NIT if applicable, income and withholding certificate, chamber of commerce and citizenship card.

Legal person: Chamber of Commerce, bank statements of at least 3 months, copy of the RUT, financial statements endorsed by an accountant, certificate of incorporation of the entity, freedom from liens, last income statement and certificate of tradition.

Pensioners: Citizenship card, last 3 bank statements, RUT, certificate free of encumbrances, last proof of payment, documents that certify other income other than the pension if applicable and certificate of tradition.