Millions of Australians invest for their future in residential real estate. But their wealth plan can go seriously awry if they are unlucky with their tenants. It’s extremely important that landlords take insurance cover that has been designed specifically to protect them from the unique set of risks they face. At GSK Insurance Brokers we offer insurance packages that address the realities of investing in real estate. As well as the standard risks covered by residential property insurance, we can show you how to protect yourself from such unique risks as rent default and malicious damage, all at highly competitive premiums.
Rental property owners face a variety of risks that owner-occupiers do not. They depend for the success of their investments upon the continuity of the rents they receive. Even the best-intentioned of tenants, however, can find themselves in difficult financial circumstances and unable to pay the rent.
The quality of tenants is extremely variable, and it’s often not until they vacate the premises that the landlord discovers the dilapidations and damage left by an irresponsible tenant. Tenants, of course, have their own rights, and landlords have a certain duty of care so far as the fitness for purpose of any amenities provided under the lease. Tenants have never been more keenly aware of their rights, nor more willing to assert them at law.
Landlord insurance from GSK Insurance Brokers can manage these risks, covering you for rent default, damage by tenants to the fabric, fixtures or fittings, and covering your liability to your tenants. Our landlord insurance policies can include cover for the following risks:
- Public liability
- Fire and storm
- Water damage
- Rent default
- Malicious damage or theft
Talk to one of the landlord insurance brokers about cover for your investment property today. Call us or send us a contact request here.