How does this whole situation impact landlord insurance?

Landlord insurance is a great safety net when something goes wrong.


However, to make sure your insurance is valid, and you are able to maximise your return when it comes to making a claim, landlords and property managers need to make sure they are following the right processes.

This means, as soon as your tenant breaks the rules, a breach notice should be issued to ensure you are on top of the situation.

For example

These are the steps you should take in Western Australia when your tenant is one day behind in rent…

Step one: Promptly issue a breach notice on day one of the arrears, giving the tenant the required 14 days to catch up on payments.

Step two: If the tenant catches up on payments, great! No more steps are needed. If not, and the tenant refuses to pay the outstanding cash within the timeframe, you can issue a notice of termination, requiring the tenant to vacate the home within seven days.

RealRenta has all the tools that a property manager has, but at over ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Thursday, 27 May 2021

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