Nightmare tenants? Is landlord insurance worth it?

November 24, 2011

Landlords Insurance

Imagine being left in this situation – Your tenant loses their job, they have no income therefore no rent coming your way. This tenant has a six month short – hold tenancy agreement but they have now given you one weeks notice of them leaving.

The tenant has left the property with rental arrears leaving you out-of-pocket and they have also left the property in an awful state where furnishings and fixtures/fittings need fixing or replacing.

Of course having landlords insurance is worth it! This will protect you from situations like the one above and hopefully not leave you with any debts from nightmare tenants.

There are plenty of insurance policies to help you, from rent guarantee to protection with different tenant types (DSS, professional working and asylum seeker). It may not cost as much as you think so it is definitely worth looking into.

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