Is it time to review your investment property risk management?

Tax TimeAs the end of financial year is approaching it is an excellent time to review what risk management is in place to ensure a trouble-free 12 months.
 
With all the positive aspects no-one likes to dwell on the negatives of owning an investment property, however it is vital that you aware of risks you may be exposed to, and even more importantly how you may reduce those risks. It’s important to realise that even the best of tenants can suffer circumstances beyond the control of even the very best property manager, or for that matter beyond the tenants’ control.
 
Although you may currently have insurance in place that you believe will meet your needs, it is quite possible that it could fall short in many circumstances.
 
Following is a real life story from a landlord who was glad to have a RentCoverUltra landlord insurance policy in place.
 
“Our tenants were broken into and the burglars smashed up the place. They ruined their stuff as well as our carpets, curtains and blinds. They had to stay with a relative while the place was made liveable again.”
 
RentCoverUltra paid not only the landlord’s damage, but the rent loss while the tenant couldn’t occupy the property. There are many different everyday situations that can lead to occasions where your rental property can become damaged and untenable.
 
At EBM we’ve been providing a wide range of Landlord Insurance solutions for more than 20 years, helping to ensure that your investment property is adequately covered. For more information on landlord insurance please call us on 1800 661 662 or more detailed information about RentCover can be found at www.rentcover.com.au