Landlords Minimising Risk

Landlord protection insurance ensures that you are protected in the unexpected situation of loss of rental income or property damage.

When committing large sums of money to an investment property, it is important that you take the time and money to protect your valued investment in case a problem arises.

Landlord protection insurance ensures that you are protected in the unexpected situation of loss of rental income or property damage. Landlord insurance is a tax deduction and provides peace of mind against any risks you may face.

And while landlord protection insurance is the best way to protect your investment, other practical devices are just as important. For example, does your property have an electrical safety switch and smoke detectors? These devices are relatively inexpensive and allow you to provide a safe environment for your tenants while potentially preventing serious damage to your property.

It is also a good idea to have a pest inspection carried out on your property annually by a professional. For a minimal fee, you will have peace of mind that your property is protected and safe from harmful pests like white ants. A yearly building inspection is also recommended to detect any potential building defects.

When maintenance is needed on a property, you need to attend to it promptly to reduce the risk of possible injury to tenants and avoiding a small repair becoming a large, costly one. When carrying out maintenance, it is important to hire a qualified tradesperson who is licensed to carry out the work and has adequate insurance to protect you against poor workmanship in the event of a tenant being injured from the work carried out.