Are You Ready for The Taxman??
As 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, we would like to ensure you are 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 our control, or in some cases beyond the tenants’ control.
In fact a recent comment from a landlord regarding a claim shows just how easy things can happen that are beyond even a good tenants control, but how you can easily protect yourself against a loss: “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.” RentCover 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. 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. This is specially the case when it comes to things like Tenant Hardship and Periodic Leases where the specialist landlord insurers may provide some
There are of course other policies available on the market and you are free to choose the one that best suits your needs. If you would like to arrange cover or simply read more about the policy you
should visit www.rentcover.com.au
Todd Pearce – June 2020