Rental properties generate income and grow in value over time, but they can also come with unique risks and costs. One common question for landlords is, “What damage is most likely to occur at my rental property?” Knowing the risks and how to reduce them is key…
Read More
A closer look at property damage for New Zealand Landlords Rental properties, for all their promise of steady income and long-term value can, if not managed correctly, become ground zero for an array of unforeseen problems and potential hazards. The reality is that damages,…
Read More
While it might be tempting to find the cheapest insurance for each of your insurance policies, it may not be worth it in the long run. Auckland Anniversary Weekend flooding followed by Cyclone Gabrielle in 2023 showed us the worst-case scenario; some families lost everything and are still…
Read More
This week, law changes to the Residential Tenancies legislation is set to strengthen renter’s rights. It aims to transition a landlord’s rental house into a tenant’s home. Looking specifically at landlord insurance, the change that will have the most ramifications on landlord insurance is the removal of no-cause evictions. Essentially,…
Read More
Homes that are rented out to short-staying paying guests are experiencing booking cancellations and reduced occupancy (loss of income) due to fears and government restrictions relating to Covid-19. We take a look at whether insurance provides cover. Covid-19, also known as the Coronavirus has caused major impact to visitor travel…
Read More
On 30th of July 2019 changes to the legislation around tenant damage and meth contamination were passed into law. The Residential Tenancies Amendment Act 2019 will: limit tenants’ liability for careless damage in rental properties to the landlord’s insurance policy excess…
Read More
The requirement for 3 monthly property inspections forms part of most landlord insurance policies. A rental property that is inspected regularly is less likely to be ill treated by its tenants, and if the property does suffer some damage it is easier to establish what and when it happened. There…
Read More
There’s a lot of talk about the ‘pitfalls‘ of renting your home out on airbnb or bookabach. Local councils are cracking down on short-term rental property owners, with the result being that your profitability suffers. Like any business, increases in…
Read More
If you plan on renting out a room or your house to short term tenants, there are some things you need to consider. One of the most important is how it will affect your insurance cover. Non-Disclosure Failing to tell your insurance company about the change in occupancy could result…
Read More
Do you know what goes on in your property? One of initio’s largest claims was contamination caused by a methamphetamine laboratory that was discovered during a police raid. While these kids are simply enjoying experimenting with their new science lab, the lab set up in your rental property might not…
Read More
Landlord, or Rental Property Insurance is an insurance policy that specifically covers the property owner (Landlord) for their Rental Home and some of the risks associated with being a landlord. Owning and insuring a rental property is a bit different from owning and insuring your own home. That’s why it’s…
Read More
With Winter well and truly upon us, the heaters have come out. Not surprisingly most residential house fires occur during winter. Kitchen fires make up about a quarter of all house fires – they commonly start from unattended cooking and can quickly spread. As a landlord there are steps you…
Read More
As a landlord, the risks to which you are exposed are often not covered by a standard insurance policy. When taking this next step on the property ladder it is important to have the right Landlord Insurance cover in place to save yourself from headaches down the track. Does your…
Read More
Andrew King, of the New Zealand Property Investors Federation, has written a common sense article on the consequences of meth in rental properties. The consequences of Meth in rental properties has been escalating over the last few years. Fortunately it isn’t the actual health consequences of meth in rentals (except…
Read More
While keeping yields high on your rental property is generally the objective, as a landlord it’s important to keep up with maintenance as deferring it can end up costing you a lot more. The added benefit is that well maintained properties are less likely to suffer weather and fire related…
Read More
What you need to know about insuring your investment property. Recently we were approached by the Auckland Property Investors Association to do a brief Q&A on landlords insurance, and some of the risks that landlords face in the modern market. You can find some of the common questions and answers…
Read More
Being a landlord comes with unique benefits and advantages. However, there are also risks with having tenants or guests stay in your property. To best protect yourself and your property, it’s important to know where to look and who to trust. In most cases, you can learn the most from…
Read More
A landmark Court of Appeal ruling means landlords are now unable to recover the cost of any damage accidentally caused by tenants AMI Insurance had been attempting to recover a $216,413.28 repair bill since March 2009, after a house it had insured was gutted by fire when a pot of…
Read More