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Rental default insurance
The landlord's insurance against non-payment — and, in practice, the thing deciding whether you are accepted.
This is a policy the landlord or agency takes out against a tenant failing to pay. You do not buy it and it does not protect you. It matters enormously anyway, because where a let is insured, the insurer sets who is acceptable.
That is the hidden mechanism behind the foreign-income lockout. Your application is not being weighed by a person forming an impression of you; it is being run against underwriting criteria — an income multiple, a check against credit registries, sometimes a minimum period of residence in Spain.
Understanding this changes what you do. You cannot charm an underwriting rule, and offering more money upfront does not make a file pass. What works is meeting the criteria, documenting that you meet them, or finding stock that is not insured.
What to check in the contract
Ask early whether the let is insured and what the insurer requires. It is the fastest way to find out whether you are wasting a week on a flat that was never available to you.
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