Should You Look Into Getting Landlord’s Insurance?
If you're the owner of houses for rent in the Gold Coast, it could be a good idea to investigate the options you have available when it comes to protecting your investments. One of the best ones to look into is landlord insurance, which can come in handy for a number of reasons.
As the name suggests, landlord insurance is a special type of policy that extends to cover your investment properties. This aims to cover unforeseeable events that could potentially put a property out of rentable order.
This includes natural disasters, covering everything from fires and floods through to earthquakes, stormy weather and everything in between. However, there is no one-size-fits-all option available, so it would be a good idea to discuss your specific needs with an insurance provider.
Another aspect that can potentially be covered by the insurance is if your tenants leave without going through the proper, legal channels – leaving you out of pocket for rent for an extended period of time.
The policy will cover lost rent while you prepare the house for the market and work towards securing more tenants, ensuring that you don't lose too much income from your investment properties.