It’s a sad fact
that break-ins are common.
Your contents can
be damaged or broken by thieves.
If you’ve failed in
your duty of care (e.g. failed to repair broken locks), you could also be
liable for losses your tenants suffer too.
Without insurance,
you’ll have to pay to repair or replace what’s been lost.
Perhaps even sadder
is the fact that sometimes the criminal element is actually your tenant.
It’s not unheard of
for tenants to steal fittings and fixtures from the rental – often when they
abscond after not paying their rent either.
It is also not a
rarity that tenants inflict malicious damage on the property.
Depending on the
policy, landlord insurance can reimburse you for losses from tenant theft and
malicious damage.
If you are really
unlucky, you may find your tenant is using your property for illegal purposes –
like operating a drug lab.
Every investor
wants a secure investment and reliable tenants.
But sometimes not
everything goes to plan.
And some events
cannot be controlled.
What can be
controlled is whether you have the safety net that comes with landlord
insurance.
RealRenta
has all the tools that a property manager has, but
less than ¼the 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
Friday, 11 February 2022
