Just been doing some sums.
If a property goes vacant, it seems you’d need the profit from 7 or 8 other properties to cover your repayments.
Have I got that right?
Alternativey landlord’s insurance will cover this? Or will they only cover a portion for a set period? I guess I’m looking for the pitfalls.
It all depends how much the other properties rent for and their returns whether it will be 7 or 8 to cover or more or less.
Insurance covers you for a period of vacancy. From memory, this was up to 6 months in specific cicumstances.
Robert Bou-Hamdan
Mortgage Adviser
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltdit doesn’t cover for standard vacancy due to end of lease, well mine doesn’t i can assure you
Byronent
Adelaide SA
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