Tip of the Week

ByTierney Cavanagh

5 Financial Traps To Avoid As A Landlord 

5. Inadequate Insurance

Landlord insurance cover can protect investors from many of the risks associated with owning a rental property. Unfortunately standard building and contents insurance policies usually don’t cover landlords for these risks.

Landlord insurance can cover property owners for malicious damage by tenants, accidental damage, legal liability for occurrences on the property that cause death or bodily injury, and loss of rental income as a result of property damage or a tenant abandonment.

Speak to one of our property managers about which company is the best to use. It is likely they have dealt with occurrences before and they would be the most knowledgeable in determining which to use.

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