As an owner of rental property, you expect returns on your investment. No doubt you already have fire and general insurance, but what about protecting yourself other unexpected costs?
This is the purpose of Landlord's Protection Insurance. Landlord's Protection Insurance offers financial protection against the wrongful actions of tenants and can cover you for the following sort of things:
I've never heard of it. Is it common?
Yes, most of our clients have chosen to have some sort of Landlord's Protection Insurance in place.
How much does it cost?
Landlord's Protection Insurance usually costs around the equivalent of a week's worth of rent per year. Happily, it's 100% tax deductible.
How do I get it then?
Talk to companies like NZInvest or Goodlife Advice.
Information supplied courtesy of NZInvest.com
Accounting for your rental residential investment property; general taxation advice.