What are landlord responsibilities?
Your role as a landlord involves making sure your property is both a safe and liveable place as well as protecting it from damage. After all, while you may not live there, it’s still somebody’s home. Should an unexpected event – like accidental damage, flood, or fire – cause loss or damage to your investment, here are some of the landlord responsibilities that go a long way toward ensuring your property will last as long as you need it.
Maintain the property
Hiring a registered trade or repairperson – either one who you trust or through your property manager – means that any repairs, installations, and maintenance your property needs should be done to a professional standard and in line with your state or territory laws. It’s not just your rental property’s structure: you also need to make sure your property’s amenities – like gas, water, electricity, heating, and cooling – work as they should.
When you do need a trade or repairperson, it’s always best to ask that any trades and repairers are supervised while undertaking work in your property – whether that’s by yourself or your agent – as this can help maintain transparency throughout the repairs process.
Treat hazardous health issues
This is fairly obvious: health hazards that could cause harm to anyone who’s living in your rental property can land you in legal hot water. You need to treat anything deemed dangerous or hazardous to your tenants’ living conditions promptly and with the correct treatment.
Health hazards – such as rising damp or mould – can also cause structural damage to your property. For example, if your investment property isn’t properly ventilated, condensation can lead to mould growing in your ceiling or in your walls. If left untreated, mould and damp can lead to weaknesses in the plaster, making it susceptible to falling down or caving in.
Cover the property from damage
Repairs, installations, and maintenance works are often required when you least expect. And if you live away from your rental property, that little extra distance away from your investment can be a hassle. Landlord insurance can potentially help if your investment property sustains loss or damage.
The benefits of Suncorp Landlord Insurance can include cover for:
- Loss or damage from event such as floods, storms, fires, and theft
- Loss of rent if your tenant cannot live at your property due to damage from these events (up to 10% of the sum insured for up to 52 weeks)
- Tenant rent default (loss of rent cover for up to 14 weeks, up to $5,000 in total)
- Malicious damage to your property caused by your tenant
- Legal liability up to $20 million
- Lock replacement up to $800 if the tenant leaves before the end of the agreement and has not returned your keys.
You don’t need to worry about your tenants’ personal contents because they’re not your responsibility. If it ever comes up, remember that your landlord insurance is only there to protect your property from insured events and possible tenant damage.
For a more comprehensive level of cover, you can include certain contents in your tenanted property on your landlord insurance and select optional covers for an additional premium – such as motor burnout or accidental damage at the property.
To make sure you select the right level of landlord insurance, you can speak to us about your specific needs on 13 11 55 (Mon-Fri 7am-9pm, Sat-Sun 8am-6pm) or visit us in store.
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. This information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Disclosure Statement before making any decisions about whether to acquire a product.