What is a Multi Unit Rental Property?

A Multi Unit Rental Property is two or more units that share a wall or floor/ceiling. To classify as a multi unit the units must be attached, i.e. they share a wall or are under the same roof. Each unit must be self contained and have the same owner.

Some examples of multi units are:

• a two story house where each level has a seperate tenancy.
• a block of flats
• cross lease units
• duplex
• rental house with attached studio / granny flat

There are some limitations as to what the multi unit properties we can insure.

• We cannot insure more than 6 units.
• We cannot insure properties that are more than 3 stories.
• The tenancies must not be short term or holiday lets.
• The property must be residential use only.
• We cannot insure individual or multiple units that form part of a body corporate.