Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

news image

Data v doomsayers: Who is right when it comes to property prices?

May 26, 2020Cameron Micallef

While property experts and big banks have widely predicted that the property market will fall, so far it has remained stable, an industry expert highlights. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
Neville Pozzi reb REIWA rolls out new ‘digital doorknock’ strate ...

The Real Estate Institute of Western Australia’s longstanding partnership with The Salvation Army is seeing the real e ...

Property technology app smartphone reb App aims to kickstart the real estate market

As the real estate industry continues to adjust to the new norms brought about by the COVID-19 pandemic, an app develop ...

Kul Singh reb New integration to provide better buyer experience

Openn Negotiation has confirmed a new integration with realestate.com.au which aims to provide a better experience for b ...

REA Group HQ office reb REA Group to take Prop20 digital

REA Group has confirmed its Prop20 series will be transformed into a digital experience. ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Michael Clarke WEB How the best agents are continuing to thrive throu ...

According to Clarke & Humel's Michael Clarke, the challenging nature of the COVID-19 real estate market is actually ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Michael Clarke WEB How the best agents are continuing to thrive throu ...

According to Clarke & Humel's Michael Clarke, the challenging nature of the COVID-19 real estate market is actually ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

housing properties reb ‘No signs of distress yet visible in housing mar ...

While the current crisis could exacerbate high mortgage debt, there are currently no signs of distress visible in the ho ...

home owners reb Home owners given stern warning on upcoming regula ...

Property managers in Victoria should advise caution to home owners, after a stern warning was issued about regulations s ...

Rolf Howard reb Will recent changes to tenancy laws tip the scales ...

The Australian rental market has long been considered by many commentators to favour the landlord over the tenant. Unlik ...

aerial properties new reb ‘Large discrepancy’: Average state loan v medi ...

New research has highlighted the “large discrepancy” between the average state loan and median house price in capita ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

Read more
Do you have an industry update?
rpm logo latest

A dozen landlord insurance pitfalls

23 April 2014 Sharon Fox-Slater

sharon 2Unsuspecting property investors can be left out of pocket by thousands if they fall victim to any one of a dozen common insurance pitfalls.

 

 

Blogger: Sharon Fox-Slater, general manager at RentCover

Advertisement
Advertisement

The simple fact that not all insurance is the same makes it extremely difficult to weigh up the benefits of one policy versus another.

Landlords often spend more time choosing a flat screen TV than insurance for a rental property worth hundreds of thousands of dollars. Often the glossiest brochure or cheapest price wins out and the landlord is left exposed.

It’s just as important to work out what isn’t covered as what is.

Some policies won’t pay out on claims when a fire is deliberately started by a tenant, if the property is on a month-to-month lease or accidentally damaged by a tenant.

Other issues to consider include the company’s reputation – what do their customers who have had to make claims have to say about them?

Some property managers perceive it as “risky” to get involved in discussions around landlord insurance which is, in my view, misguided. Failing to alert landlords to the need for cover can leave not only them but you and your company exposed.

It can be uncomfortable having the tough conversation with clients but, remember, they will be the first to thank you if disaster strikes and they find themselves protected because of your care and good advice.

One resource you might choose to refer to is an e-book – 12 Most Common Pitfalls When Insuring Your Rental Property – penned by my colleague Brett Clarke who, like me, has been in the landlord insurance industry for more than 20 years. (See the RentCover website if you’d like to download it.)

Naturally, he favours RentCover, but the e-book can help landlords differentiate effective from inadequate insurance policies, regardless of which product or firm they end up choosing.

There’s more detail in the e-book but, in brief, the pitfalls are:

1 Buying on price alone — look for “value” not “cheap”.

2 Deliberate fire by tenants — some policies exclude this.

3 Excess — how much, and can the bond be used as payment?

4 Underinsurance — insuring for less than true replacement value.

5 Malicious damage by the tenant — is it covered?

6 Accidental damage — some insurers limit cover to the contents not the building.

7 Check the qualifying (or disqualifying rules) — beware the fine print.

8 Check for complete cover — some combined house and landlord policies offer less cover than specialist landlord policies.

9 Court orders — do you need a court order to claim for rent default?

10 The belief that the body corporate already insures the landlord’s property — not for liability if someone hurts themselves inside.

11 Periodic tenancies or lease continuation — some won’t pay out for claims if the written lease has expired.

12 When landlords figure out they “don’t need insurance” — a reliable tenant and a good property manager is not enough to protect you, as accidents can happen to even the most reliable and carefully supervised tenant.


About Sharon Fox-Slater
sharon 1Sharon Fox-Slater is the general manager of RentCover, a division of EBM Insurance Brokers, which insures 120,000 investment properties around Australia. With 20 years’ experience in landlord insurance, Sharon’s top priority is customer service and positive customer comments are her biggest marker of success. Despite leaving school at 15, Sharon has forged a ground-breaking career – she was the first woman to become a fellow of the National Insurance Brokers Association. Sharon was recently honoured to have been included in Insurance Business magazine’s Elite Brokers 2013 list.

A dozen landlord insurance pitfalls
default
lawyersweekly logo
Sharon Fox-Slater

Sharon Fox-Slater

Sharon Fox-Slater is the Managing Director of EBM RentCover, which protects more than 150,000 rental properties across Australia. She commenced a role with EBM back in 1993 and was part of the core team that helped launch one of Australia’s first landlord insurance policies into the market. She was also the first woman in Australia to complete the Advanced Diploma in Insurance Broking, and is well equipped to educate property investors and property professionals about the value of aligning with a specialist landlord insurance provider.

FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of REB.

Read more
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.