pro­tect your­self

The Advertiser - Real Estate - - Open House -

WHEN com­mit­ting large sums of money to an in­vest­ment prop­erty, it is im­por­tant you take the time and money to pro­tect your val­ued in­vest­ment in case a prob­lem arises.

Land­lord pro­tec­tion in­sur­ance en­sures you are pro­tected in the un­ex­pected sit­u­a­tion of loss of rental in­come or prop­erty dam­age.

Land­lord in­sur­ance is taxd­e­ductible and pro­vides peace of mind against any risks you may face.

While in­sur­ance is the best way to pro­tect your in­vest­ment, other prac­ti­cal de­vices are just as im­por­tant.

For ex­am­ple, does your prop­erty have an elec­tri­cal safety switch and smoke de­tec­tors?

Th­ese are rel­a­tively in­ex­pen­sive and al­low you to pro­vide a safe en­vi­ron­ment for your ten­ants and could pre­vent se­ri­ous dam­age to your prop­erty.

It also is a good idea to have a pest in­spec­tion car­ried out an­nu­ally. For a min­i­mal fee, you will have peace of mind that your prop­erty is pro­tected and safe from harm­ful pests such as white ants.

A yearly build­ing in­spec­tion is rec­om­mended to de­tect any po­ten­tial de­fects. When main­te­nance is needed, you need to at­tend to it promptly to re­duce the risk of pos­si­ble in­jury to ten­ants and avoid a small re­pair be­com­ing a large, costly one.

When car­ry­ing out main­te­nance, it is im­por­tant to hire a qual­i­fied, li­censed trades­per­son.

More hints and tips can be found at

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