Managing your own rental property can save you money on management fees, but did you know it could also impact your landlord insurance? Many insurers have specific conditions regarding professional property management, and self-managing could leave you exposed to financial risks.
Here’s how self-management might affect your coverage
Tenant Screening Requirements. Some policies require thorough background checks. If you place a tenant without proper screening, your insurer may deny claims for tenant-related damages.
Regular Inspections. Many insurers require documented routine inspections. If you’re not keeping up with them (or have no proof), claims for damage or neglect might be rejected.
Rent Defaults & Loss of Income. Some policies only cover lost rent if a professional manager is handling the lease. If you’re self-managing and a tenant stops paying, you might not be covered.
Legal Liability. If a tenant or visitor gets injured on the property due to poor maintenance, you could be personally liable.
A property manager ensures compliance with safety regulations to minimise this risk. Before deciding to self-manage, contact Gardian Real Estate - Property Management at 07-4957-7424 and see what our agency can do for you.
Stress-free management of your investment is only a phone call away.
