How to protect yourself when renting or leasing a property: September 11th, 2017 You hear…
Carolyn Parrella from Terri Scheer, Australia’s leading landlord insurance specialist, joins Steve Price to take an informed look at tips and traps for property investors.
Property market update: October 2nd, 2017
Pets and property: October 9th, 2017
How to set rental prices and tips for first time investors:
October 16th, 2017
What are the insurance needs of your investment property:
October 23rd, 2017
When it comes to figuring out the insurance needs for your investment property, it might pay to not listen to the self-helpers.
Sure, big ol’ Tony Robbins might be on the money when he talks about thinking positively for things like rocketing up the corporate ladder or realising your dream bod, but for insurance, a more realistic guru is required.
The fact is, often the best thing you can do is picture the worst case scenario- and more importantly, how much it will affect you both with and without insurance, should you find yourself there.
Generally speaking, there are two threats to consider:
- Damage from the tenant: Is it likely? What could it be? How ugly could a dispute get? In any event, if you didn’t have insurance, could you cover expenses without it affecting the mortgage?
- Damage from the elements: How resistant is the property to a storm or flood? If damage did occur, could you survive without the rent while the property was repaired (or rebuilt)?
Units can be somewhat of a different story as in most cases the body corporate has property insurance covered. However, you’re still liable for contents- which can include things you might not think, such as carpets.
Of course, getting to know a policy and its exact wording is vital for correctly predicting the outcome of any and all disastrous daydreams you might have- as Carolyn Parrella from Terri Scheer explained to one caller concerned about the damage from a tree roots encounter with some plumbing.
Tips on getting your property leased, fast: October 30th, 2017