Hi All,
Some say, to have a peace of mind, taking a Landlord insurance including public liability is a MUST if you are serious about in residential property investing.
Do you have any recommendation that has worked for you in the past that gave you a peace of mind knowing regardless if the tenant has bailed out without paying weeks of rents which includes covering you in case you get sued by the tent.
Appreciate any recommendation.
Thanks, Leo
It's definately a must. If your self managing just make sure you take out a policy that allows for it – Real Insurance and ING allow me to self manage and are both competively priced.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I agree with Jamie – it's a must! I've had several incidents where I needed insurance, and thankfully I've always been covered.
Most major insurance companies offer landlord's insurance and it's worth reading their policies to find out which are best. I would recommend finding a company that not only covers rent that a tenant may have failed to pay before skipping town, but also rent you lose while fixing malicious damage to your property. Look to have at least 13 weeks (that's three months) of cover as you'll sometimes need it!
I hope this helps.
Cheers,
Den
Thanks guys…appreciated your feedback.
Yep it is a must. A tenant can do damage to your property to the value of far more than the measly deposit bond you hold. Be sure to get landlord insurance with tenant protection (that covers malicious damage). I've claimed under AAMI and they were absolutely fantastic.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thanks JacM
You must be logged in to reply to this topic. If you don't have an account, you can register here.
