Protecting your Property Investment

Posted By Courtney Simpson

Protecting your property investment is your number one priority. A property investment is likely going to be the most significant asset purchase in your life time. To get the most out of your property investment you need, firstly, a property manager that you can trust and is focused on your needs, and also the right insurance cover.

Often overlooked, but most necessary, is insurance. Landlord Insurance, in particular, can help you. You can be covered for loss of rent, malicious and accidental damage and legal liability.

Occasionally the unexpected can occur and repairs, maintenance and loss of rent can be expensive. This is where Landlord Insurance can give you peace of mind. There are many companies that offer this insurance and their policies vary, from what they cover, to claims excesses and their annual premiums. Always read the PDS carefully to ensure you are covered for what you expect.

Recently on Triple M radio, the hosts discussed with callers their experience with investing in residential property. The vast majority of callers who had a negative and costly experience had similar experiences. Beginning with self managing the property, with no experience in managing property (this is a high risk decision) and often significantly more costly than employing a professional property manager. Secondly, they claimed they incurred significant expenses from damage, loss of rent and repairs as a result of bad tenants. These experiences are exactly the reasons why you should ALWAYS insure your property investment, and if you have no experience, choose a professional property manager, it will significantly increase the chances that your property investment experience will be a happy one.

If you would like to discuss your investment property, please give Courtney a call on 0402 337 577. We manage a very small property portfolio to ensure our clients receive the best personalised service.

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