Risk Management

Protecting Your Investment

 

Insurance: It is extremely important that one of your largest investments be covered by insurance. There are several policies our there so be sure to read the fine print so you know what you are covered for. Most policies cover you for loss of rent, malicious damage, public liability and some items of content such as curtains or carpet.

  

Smoke Alarms: The legislation requires all residents to have at least one working smoke alarm installed on each level of their home. For further information please click here

The Office of Fair Trading explains that the landlord is responsible for installing smoke alarms in a rented premises  and where a smoke alarm is of the type that has a replaceable battery, it is recommended that the landlord replaces the battery in at the commencement of a tenancy. After the tenancy begins, the tenant is responsible for replacing the battery if needed.

 

Security: It is a requirement of the Residential Tenancy Act that all locks are secure and operate effectively with keys throughout the property. This will enable the tenant to feel secure during the tenancy and easily obtain contents insurance for their personal items. It is important to note that all tenants listed on the Residential Tenancy Agreement are entitled to receive a full set of keys for the property.

 

Swimming Pool: Landlords must ensure that all properties with a swimming pool or spa have a valid certificate of compliance and a copy of this must be provided to the tenant(s).