Get landlord insurance
How does getting landlord insurance reduce the chances of your tenant
Fair question. But it’s always the ones who don’t have landlord
insurance who need it.
Most good policies have a $0 excess for rent arrears meaning you don’t
need to pay anything to claim loss of rent (that you tenant never paid). This
is providing you have minimised your loss as much as possible (which is
following this exact guide).
Check outEBM,Terri Scheer, andAonfor
These steps are the most important things you need to do to prevent your
tenants from falling behind in rent and making rent their number one priority
when finances get tight.
PS: Don’t tell them flat out that their rent should be their number one
priority. It might come out the wrong way and they could get offended. Let your
actions speak louder.
Check out the
next blogs on What to do if your tenant starts falling behind in rent
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Thursday, 27 August 2020