While landlord insurance does not cover routine maintenance and repair costs, it may respond to damage caused by insured events such as fire, storm and flood.
It is a condition of practically all building insurance policies that the property be adequately maintained. Failure to do so can mean a reduced payout or denial of any insurance claim.
For example, if there was a storm, and heavy rain came through the roof and damaged the ceiling, the repairs may not be covered if it was found that the water came in because the roof had not been properly maintained (e.g. there were cracked or loose tiles).
Another aspect is who conducts repairs. Reconsider DIY jobs as repairs made by unskilled, unlicensed or uninsured drill-wielders pose risks, such as:
- further damage will result if the person doesn’t know what they are doing (especially where structural or roofing repairs are concerned);
- the repair will result in safety issues or be illegal (e.g. some work must be performed by licensed trades such as an electrician or plumber);
- the person carrying out the job will injure themselves or another
Every year around 25,000 people seek treatment related to ladder falls, nail gun injuries and accidents with lawn mowers and power tools, and around 3,000 people are hospitalised as a result of an injury from a DIY job.
If a tenant causes damage or, worse still, is injured while undertaking repairs at the rental, the landlord’s insurance may not cover their liability. Also, damage or injury caused or suffered by Landlords or tenants undertaking repairs is unlikely to be covered by insurance.
The best advice is to step away from the power tools and call in the professionals.For more property management tips and news, check out our videos www.rentalresults.com.au/videos