the appropriate insurance, which should
include everything from building, contents,
public liability, workers' compensation and
loss of rent due to damage or tenants simply
not paying.
don't have it, according to a survey conducted
by research house BDRC Jones Donald.
if you have an issue with your investment
property or tenants, not having insurance
could result in a significant proportion of
your income being wiped out. It's absolutely
not worth the risk.
products can be tough to compare and
most landlords don't have the time to
trawl through product disclosure booklets
to identify which policy is best. So, we got
a great insurance offer for our clients, and it's
one of the most comprehensive policies of its
type in Australia. It covers all the necessary
items plus some other situations we wanted
included for our clients. This one package
costs a tax-deductible $310 per annum.
It's cheap as chips.
at least 15 weeks of rent while we find you
another tenant (which might only take a
few days to a week!). Say there's damage
to your carpet, curtains or blinds you're
covered with this insurance policy for up to
$50,000 in repairs minus a small excess.
It's a simple product and gives our landlords
peace of mind.
good references and you feel sure they're
not going to cause malicious damage. And
you might be right. But damage isn't always
malicious. Accidental damage, including
Executive of McGrath
Estate Agents.
John McGrath says it's important to be covered by the right insurance policy.