Rent Insurance, a company specialized in the economic and legal protection of owners who rent homes, makes the leap abroad in the middle of a pandemic. After opening 47 offices in Spain, the company, which currently manages a portfolio of 14,000 rental homes, the first delegation will open in Lisbon on June 8 and will begin to work in the neighboring country through its subsidiary Aluga Seguro. “We want to replicate in Portugal the model that is working here. Portugal is now in an investor’s crosshairs. We have already signed preliminary agreements with funds and family offices and we have important partners; which will allow the rent to grow very quickly, without forgetting the star client, the private landlord ”, he points out Antonio Carroza, CEO of Safe Rental. In his opinion, the option of renting a home has emerged strengthened from an unprecedented global crisis, “since it is an agile, flexible housing solution within everyone’s reach.”
Carroza emphasizes that another of the great challenges of Safe Rental in its internationalization process towards Portugal is advise developers and builders on the build to rent model (build to rent), a growing business since the start of the coronavirus crisis. “Building to rent is becoming a reality that interests investors more and more. Currently, we are advising, both in Spain and Portugal, in the development of homes designed to be rented, helping to choose the location or characteristics of the properties ”
At the end of 2020 and after nine months of health crisis, the company revealed that the year of the pandemic, in the face of the deterioration experienced by other sectors, revitalized the firm’s turnover due to the rebound in rent versus home purchases . “Rental Seguro valued 14,492 properties last year for the structuring of purchase-sale operations and management of homes owned by investment funds, financial institutions and family offices, of which 2,739 are already committed for management to three investment funds, the property owners. The company has always counted on the advice of KPMG ”.
“If the economic crisis in Spain is lowering the rental price, the legislative uncertainty in the face of an imminent new rental law that limits it is slowing down the pace of sales,” explains David Caraballo, commercial director of Safe Rental. “The rental market it is sensitive to any small change ”.