Landlords are certainly feeling a lot of pressure due to the Corona Virus because many tenants are losing their jobs and are suddenly, unable to pay rent.
Most landlord insurance policies won’t be affected by the
pandemic, however it pays to read the product disclosure statement for your
specific policy.
Your basic landlord insurance should cover you in the event
of:
· Loss of rental income
· Loss or damage to your building
· Loss and damage to contents of the building
(curtains, carpets, blinds, appliances etc)
· Rent default
· Absconding tenants
· Tenants going through hardship
If your tenant suddenly is unable to pay rent, you should be
able to claim under your policy’s standard rent default clause.
See our recent article: Landlord responsibilities to their
tenants: https://www.realrenta.com.au/blog/post/696
How to defuse and emotional situation with a tenant:
https://www.realrenta.com.au/blog/post/597
Use RealRenta to
communicate with your tenants and take advantage of the automated date and time
–stamping for all transactions and interactions.
Start your Free
trials: https://app.realrenta.com/Signup.aspx
Jason Gwerder
Tuesday, 31 March 2020
