As an investor you expect your property to become profitable. Your fire and general insurance should protect your investment in case of a fire or natural disaster, but how can you safeguard your profits from unexpected losses arising caused by defaulting tenants?
While our Property Management team applies strict criteria when selecting tenants, one type of insurance well worth considering is Landlord's Protection Insurance.
Landlord's Protection Insurance offers financial relief from the wrongful actions of tenants and can cover you for:
The cost of Landlord's Protection Insurance is just one week's rent per year, paid monthly from your rental income to the Insurance company. The owner of the company was a Property Manager for many years and as a result has created an extremely valuable tool for owners and their agents to reduce their exposure to serious losses arising from tenant breaches. We strongly recommend having this in place for your portfolio as even the best tenants can become the worst when dealing with unforeseen problems that may arise within the family (such as illness or injury, inability to work, relationship break-ups etc).