Our insurance success story!
As stated in previous newsletters, landlord protection insurance
is an important thing to have, to safeguard your investment property against
any theft, damage and possible loss of rent.
Here at Better Buildings Realty, we pride ourselves on
our tenancy screening process and only recommend applicant that have been
thoroughly checked and that we believe would be able to pay the rent on time
and will look after the property.
Unfortunately in life, there are no guarantees and
anyone’s situation can change at any given time. Should an unfortunate
situation occur with your tenant, you need to ensure that your investment is
protected, by having the necessary tools to avoid your financial situation
being negatively affected.
We recently had a tenancy that was terminated by the NSW
Civil and Administrative Tribunal who vacated the apartment leaving behind a
lot of rubbish, several thousands of dollars worth of damage which included new
blinds, carpet and paint. For many investment owners, this would put them at a
significant loss, however luckily, the owner of this property had a landlord
insurance policy which ensured that the painting, new carpet, replacement
blinds and that the majority of the damages totalling over $3,400.00 was
covered.
If you currently have a
policy on your property and it is managed by yourself, we ask that the details
of the policy for e.g. insurance agency, policy number and expiry are supplied
to our office so that we can help monitor that the policy is current. It may
also be in your best interest to have the policy re-directed to our agency so
that we can ensure that the insurance premium is paid on time and that we are
able to act on your behalf should the unfortunate situation occur that an
insurance claim is required.
For all owners who do
not have landlord protection insurance, we ask that you strongly consider
purchasing a policy to ensure that you are equipped for any unforeseeable issue
that may occur in the future. The cost of the policy is tax deductable and
usually between $300 - $400 per annum. We spend several hundreds or even
thousands of dollars to protect our cars from theft or damage, however overlook
insuring one of our most expensive assets.
Should you wish for our
agency to purchase an insurance policy on your behalf please contact our office
on 9893 7788
