#NEWS

12/07/2017

Verlingue Immobilier launches a solution affording peace of mind for commonhold property owners

Unpaid charges, accidental injury…Over 100,000 commonhold properties are fraught with problems*. This figure is constantly on the increase and harbours risks for owner-households in their daily lives.

 

To remedy this situation, Verlingue Immobilier (Verlingue Property), a leading broker for real estate professionals, has launched an insurance plan (CoproZen) to provide support for co-owners in the administrative, legal and financial aspects of commonhold management. The aim is to simplify their daily management tasks, keep the commonhold association afloat financially by providing indemnity for unpaid charges and provide adequate legal protection cover in the event of disputes.

 

Ensure legal protection cover and support the co-owners in the event of litigation related to unpaid charges

 

More than two thirds of court actions brought by co-owners are for recovery of unpaid charges. 60% of these cases involve amounts of over €4,000. These situations may, in particular, cause work on the common areas of the property (stairs, corridors, lifts, etc.) to be delayed and therefore put residents at risk.

 

CoproZen is a simple, comprehensive solution, designed as a response to the needs and requests of co-owners by providing cover for defence of the commonhold interests (neighbours, service providers, etc.). Cover extends to legal support and an amicable solution to disputes, indemnity for the costs of any court proceedings (lawyer fees, bailiff’s costs, survey expenses) and immediate compensation for unpaid charges, with no excess.

 

Taking the risk out of commonhold ownership

 

CoproZen is, above all, tailor-made support aimed at specific situations such as the weight of service charges on household budgets, defaulting co-owners, etc. Cover acts to facilitate property management and defuse disputes between co-owners. It proposes fair rebalancing of commonhold association charges and provides full public liability cover for co-owners.

 

Stéphane Grandchamp, CEO of Verlingue Immobilier says: “This solution for co-owners is a breath of oxygen for those with few resources and sometimes in distress, when owning their own home was supposed to offer them full enjoyment of their property. The solution offered by Verlingue Immobilier enables them protect themselves against disputes that threaten the commonhold financially and harm community spirit”.

 

* Source: A study carried out jointly by the French Ministry of Housing and the National Housing Agency (ANAH).

 

About Verlingue Immobilier

 

Verlingue Immobilier is a department within Verlingue. Verlingue Immobilier was born out of the Verlingue merger in 2014 with De Clarens and has risen to become one of the leaders in France for the insurances of real estate professionals offering tailor-made services for public and professional liability, buildings packages, contract works, condominium legal defence, rent guarantee, non-occupying landlord and resale-value guarantee insurances.