There are many types of landlord insurance available and although you don’t need all of them, it is essential that you know the ones you do need for your investment property (and the ones you don’t).
Standard building and contents insurance – more commonly used by owner occupiers than by landlords.
Strata insurance – held by the body corporate and paid for by the owner’s levies. The owner has legal liability for the common areas whilst the body corporate is responsible for the building. This doesn’t cover landlords for damage caused to the interior of the property by the tenant or if the tenant defaults on rent payments.
Landlord insurance – this is a specific insurance designed to insure landlords against actions by their tenants. These risks include theft, malicious damage, accidental damage and loss of rent.
If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Senior Investment Property Manager, on 9651 1666 or firstname.lastname@example.org
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