What is a landlord’s idea of a good tenant? Is it someone who regularly maintains the upkeep of the garden or is it someone who is conscious of not spilling wine on the new carpet? Surprisingly, it’s not only malicious tenants who can cause property damage to a landlord’s life investment.
Research from Terri Scheer, Australia’s leading specialist landlord insurance provider, has seen a spike in property damage caused largely by accidents, and by good tenants. Damage is normally associated with malicious circumstances and not normally connected with ‘good’ tenants, yet their research has shown even the best tenant can cause accidental damage to a property.
Terri Scheer figures show a 34 per cent increase in the frequency of malicious damage claims paid over the period from 2010 to 2011, and a frequency increase of accidental damage claims by 46 per cent over the same period.
The average size of malicious damage claims increased by 3.6 per cent over a 12-month period between 2010 and 2011, yet the average size of accidental damage claims was much higher, showing an increase of 16 per cent.
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