There are a variety of providers of Landlord Insurance so, there is value in doing some “homework”. Based on our experience and findings to date, we recommend that Property Insurance Plus and EBM are popular due to their coverage and commitment to Residential Landlords and their Policies cost approx. $287.00 and $305.00 per annum respectively. PIP do not provide cover for Short Stay Landlords though. That is where Terri Scheer become a preferred provider.
Tax Depreciation Reporting is another valuable additional service, which is purposed to maximise a Landlord’s annual Tax Return. We will expand on this further on in this Newsletter.
The above “Add-ons” provide no direct benefit to a Real Estate Agent but, they provide significant benefit to a Landlord, either by putting more money in their pocket or giving them priceless Peace of Mind. Though not compulsory, legislation either encourages or assumes that a Landlord is engaging these additional services. For instance, VCAT will automatically apply depreciation against any property damage claim.
We do stress that none of our Clients have attracted any penalties for non-compliance to the required provision and prescribed installation and maintenance of a smoke detector. This is not, however, to be taken as an ongoing guarantee. The current media frenzy and public upset that is buzzing around the most recent incident of carbon monoxide poisoning, resulting from a poorly maintained and aging gas heater, could just as readily be focussed on a
Our responsibility as professionals is to provide duty of care by sharing information that is either critical or highly beneficial with our Clients. We do so when this duty exceeds our discomfort in recommending further out of pocket expenditure.
When we promote an additional service, it is never for the purpose of gaining further income for the business. The value is derived from knowing that we have directed a valued Client away from potential penalty or loss and/or claims of negligence.
If you have any questions or need some property advice, please drop us a line or give us a call,
If you have any questions or need some property advice, please drop us a line or give us a call,
Sincerely,
Mariam, Noune, Carolyn, Shelley and the team at Silver Service Real Estate.
Suite 6/8 Bromham Place, Richmond, VIC 3121
PHONE +61 (0) 3 8689 7960
EMAIL; [email protected]
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