Less intrusion for tenants
Property inspections are a form of risk management that helps to reduce and identify malicious damage and meth losses. However, the issue of insurers moving to three monthly inspections has been debated recently, with many feeling that it is too frequent and intrusive for tenants.
The NZ Property Investors’ Federation (NZPIF) is very pleased that their specialist rental property insurance supplier, Initio, has just increased for our members the required period between property inspections from three months to four.
The benefit of fewer inspections is only available for NZPIF members, including those in the new $25 per year Associate Membership category, and the move reflects Initio’s data which shows that members’ rental properties suffer less tenant related damage losses compared to non-member properties.
“This is great news for our members” says NZPIF Executive Officer, Andrew King. “In addition to getting a special price on an already well priced and specialist rental property insurance product, our members and their tenants will now get the additional benefit of fewer inspections.”
“It is gratifying to have it acknowledged that the education and support we provide to members is leading to them being better rental property providers for both tenants and suppliers”.