Australians invest in property as a proven long-term path to financial security and the summer months bring increased rental relocation activity, particularly in the New Year. However, many landlords and property investors neglect to protect their valuable asset by taking out appropriate insurance cover. It is important for landlords to realise the cover they need should extend beyond the normal building insurance policy, which does not cover things like willful damage to their property, failure to pay rent, or claims made against them by their tenant.
Summer is always a busy time for the rental market as tenants find it more convenient to move after the Christmas/New Year festive season, and, the holiday letting market also gets into high gear.
Landlord protection policies differ widely, but at First National Real Estate we can help landlords find the right insurance policy for them.
Some, for instance, are designed to be used in conjunction with a typical home and contents or strata title policy, while others are more comprehensive. According to industry research, less than half of all self-managing landlords have specific landlord insurance, even though three out of five recognise a bond is not sufficient to cover most incidents with tenants.
Landlords who use real estate agents to manage their relationship with tenants face fewer problems than those who self-manage their investment properties.
At First National Real Estate we manage around $50 billion worth of properties on behalf of clients nationally. We make sure appropriate rental agreements are in place, screen potential tenants and check their references, regularly inspect properties and ensure maximum returns are achieved for each of our rental properties.
We have leading edge systems and best practice procedures in place to ensure vacant properties are marketed correctly, and maintained in optimal rental condition.
We can provide clients with documentation to support tax depreciation claims and arrange regular value appraisals and asset management reports to maximise their investment potential.
In essence, we put you first by making sure you and your investment are properly covered, and, that your tenants are kept happy in a properly maintained / managed property !