Landlord’s insurance is the only type of cover offered by RAC that protects against loss of rent where a tenant defaults on rent (after 4 weeks, for up to 12 weeks to a maximum of $3,000) and malicious damage caused by your tenant. You should weigh up how important these events are to you and ask yourself:
- Can I afford to not receive rent in this property should my tenant stop paying?
- Can I afford to lose rent should my property become uninhabitable?
- What would I do if the tenant damages the property?
You should always check the PDS & TMD to see if this product is right for you.