Tenrisk Underwriting Managers
New insurance makes property letting a more secure investment
For many multi-property owners a regular, reliable monthly rental income is not only key to justify their decision to invest in property, but is also essential in enabling them to meet their bond and levy payment obligations.
Unfortunately, as a result of recent horror stories of defaulting tenants who don’t vacate their rented premises, property owners are now coming to terms with the reality that their monthly rental income streams are not as secure as originally thought. With this reality comes the realisation that the financial costs and risks associated with using the legal process to achieve tenant eviction can be quite daunting and expensive.
This is the view of Rob Kelly, MD of Hollard Insurance Partners who have launched a new Landlord Protection Policy in partnership with Tenrisk Underwriting Managers that insures landlords against loss of rental, provides for legal costs up to R40 000 and also takes care of legal procedures to achieve tenant evictions where necessary.