After several months of negotiations between the Secretariat of State for housing, representatives of insurance companies and Action housing (the 1 housing managers social partners), the new device of the guarantee of the rental risks (GRL) is ready. Benoist Apparu, Secretary of State for housing, it was presented yesterday to the press, indicating that the three decrees accompanying it are signed and will be published this week in the "Official Journal" and hoping that the distribution of this new product of optional insurance which guarantees owners lenders against the risk of unpaid rent and degradation of the property be distributed "in the current January."
This device, he explained, tries to meet two objectives: convince the owners of 600,000 to 650,000 vacant housing to their property in the rental market, and improve the "social treatment of the unpaid" in to the insolvent tenants as soon as the first incidents of payment. He takes over for a system created at the end of 2006 by the 1 housing to ensure owners against the risk of unpaid of the poorest populations, those where the amount of the rent is from 35 to 50 of income. But this GRL "first version" had not produced the expected results - there are only 150,000 contract, - because it coexisted with so-called "guarantee against unpaid rent products (GLI), offered by insurance companies. Schematically, noted the Minister, the market is divided between the GRL, who assumed the risk of unpaid for the most vulnerable populations, and insurers, covering the rest.
Merger of the two systems
Starting from this observation, the negotiators have agreed to merge the two systems into a single product, distributed exclusively by the insurers, the State and acting on their side in the reinsurers in housing. The new system takes into account all rate effort of tenants between 0 and 50 of their income. If unpaid, the insurers cover loss of tenants whose effort rate is between 0 and 28 of income. Beyond (from 28 to 50), is for the most vulnerable populations, insurers continue to cover the loss, but the "sursinistralité" is reinsured either by Action housing when tenants are employees, pensioners, young people and stock students, or by the State if it officials, people with social minima, farmers, artisans or professions.
The amount of the premiums paid by the owner who wishes to cover the rental risk will depend of course of the trade policy of the insurer that he will be chosen (the current contracts revolve around 2 to 3 of the rent charges included). On the available reinsurance ceiling, Action housing is on the table EUR 70 million in 2010 and 100 million in 2011. State is less generous, with 10 million in 2010 (it is in fact a prize already paid by the State agencies of the 1 housing in the old device and which has not been consumed) and for 2011, an amount to be determined by the law of finance 2011.
Remains to know if this new device will not absolve the tenant. Benoist Apparu, this risk is low, because the insurer return course against the tenant did not pay his rent, with a capacity to recover the debt "probably more important than that of a small owner".
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