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Protecting your investment?
Protecting your investment.
There is no doubt that letting out your investment property can be very rewarding for landlords with potential for both rental income and capital growth. Within the last decade there has been a strong growth in property prices and solid rental yield for landlords. Recent years have been slightly more difficult in terms of buying property to let but the positive side is that rental demand has remained strong.
The vast majority of landlords have experienced steady rental incomes and a well looked after property with no serious problems. Not such a shabby result given the currentfinancial climate. In a realistic light, there is always a chance that something will not go so smoothly. Let’s face it very few investments are 100% safe. A bad tenant (every landlords worst nightmare) can end up in arrears, costly legal fees and even damage to the property that may have to be paid for by the landlord, often with little possibility of recovering the costs from the unwanted tenant.
Whilst it is impossible to guarantee than any tenancy will go well, let’s not also forget than every tenant is held accountable for their actions both in the short term & long term, however on the bright side there are insurances available to protect you as a landlord as much as possible.
Terri Scheer insurance specialise in landlords insurance, protection and peace of mind for owners of professionally managed investment properties.
Terri Scheer Landlords Insurance products are designed to provide cover for many of the unique risks than can be associated with owning a residential rental property.
What is important to you as a landlord?
Do you have the fully furnished unit with a $40 000 inventory? Or maybe the recently renovated Queenslander? Regardless of your contents as a landlord it is important to you.
The Terri Scheer Landlord Preferred Policy provides cover for general household contents including curtains, carpets, blinds, light fittin
gs and even furniture left for the tenant’s use. These items are covered against loss resulting from:
- Malicious damage by all persons, including tenants
- Deliberate damage by all persons, including tenants after MD
- Accidental damage by all persons, including tenants
- Theft, riot and civil commotion
- Fire, explosions, lightning and earthquakes
- Breakage of fixed glass
- Storm and rainwater
- Water damage (excluding flood)
- Impact damage & leakage of oil
- Fusion – limit of $2000
Or are you the landlord who got forced upon them an unwanted strike of fate? Tenants in arrears!
We’ll make sure you still have income from your property to meet your expenses.
Our Landlord preferred policy will pay for loss of rent caused by:
- Premises being left untenantable due to malicious damage to the building and contents for up to 52 weeks
- Absconding tenants for up to 6 weeks rent
- Defaulting payments resulting in eviction of your tenant by a Court Order for up to 15 weeks rent
- Prevention of Access for up to 52 weeks rent
- Failure to give vacant possession for up to 28 weeks
- Death of a tenant under a sole tenancy for up to 15 weeks rent
- Tenant Hardship (when a Court awards your tenant a release from their lease obligation due to hardship) for up to 4 weeks rent
Legal expenses – up to $5000
Representation costs – up to $500
Replacement of locks – $250
Save 5% – Apply Online
Any landlord who applies online now for their new Landlord Preferred or Scheer Short Stay Policy receives a discount of 5% off their first years premium.
No matter the situation, Terri Scheer has your back.
Jump on their website to become a member or call or email Stella at the office and she will happily arrange the application process for you!
For more information check out their website!