The Lawyer's Lunchbox

Landlords - take heed

Advice for Landlords

An alarming trend of confusion among landlords has emerged recently and is leaving owners of investment property vulnerable and under-insured.

It has been reported that many investors are under the misunderstanding that many of their risks as a landlord are covered by the body corporate building insurance.

Unfortunately for landlords, in most cases the contents of their property, including paintwork, curtains, floor coverings and light fittings, as well as any malicious damage to the inside of the strata lot are not covered by the main body corporate insurance.

If you are unsure about the level of insurance offered by your body corporate, it is recommended you speak to the building insurer.

Additionally, if you are not already covered for loss of rent, malicious damage to the building by your tenant or more importantly, bodily injury or death of a tenant, you could stand to lose everything you own – however this can be easily overcome by ensuring you have the right insurance.

This advice is kindly brought to you by Kingsford Property - Inner City Apartment Specialists

posted by brett hayton @ 6:26 PM