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