Life happens and sometimes a tenant’s mistake or accident can have catastrophic effects on your property and bank account! Don’t be caught short on this like one of our landlords.
The owners of a beautiful 3 year old property in Lalor decided to put high quality floating floors into their investment property believing they were not only a durable but would attract tenants with an appreciation for quality. Fast forward three years and after a spotless tenancy the tenants vacated leaving severe and deep scratches in most rooms. It was determined that the tenants had done the damage with steel footed chairs, tables and bed frames. Quotes to replace the boards uncovered more than $24,000 in damage. Because the owner’s insurance didn’t cover accidental damage the owner only received a bond refund of $1956, a short fall of $22,044. Obviously they are devastated!
For a low cost, per annum (tax deductible) the owner would have been covered up to $60,000 with an excess of $250 which would have been covered by the bond refund.
“When Ristic Real Estate first suggested I go with their recommended insurer I thought I was better off with one I found myself, how wrong I was. This whole disaster has been very stressful and costly. Even though the tenants didn’t mean to cause the damage, the bond didn’t cover the repairs” Sandra (owner)
Call us today to ensure your investment property is properly insured!
“Fusun and Ristic Real Estate have been managing our family’s properties for over 15 years and my personal property for over 5 years. Fusun and the team are nothing short of amazing, the follow up, attention to detail and genuine interest and care they show is impressive. I still remember when the Christmas storms hit several years ago and Fusun whilst on holiday, cut this short to check out the damage to the property and then arrange for the damage to be fixed (all within the space of several hours). Her experience and advice has proven instrumental” Landlord – Shiva V