As Newton”s third law of motion says;
for every action (force) in nature there is an equal and opposite reaction
We are all seeing the increase in rents which on one hand are a bonus for owners and agents.
However the opposite reaction to this is that we are seeing an increase in the number of claims and the quantum of the claims being lodged with us for recovery.
We are regularly receiving claims for $5000, $6000 and $7000 and these are not the exception but are becoming more common as rents increase.
Some interesting statistics are that while some owners have landlord insurance, of the claims lodged with us that have landlord insurance we find that the average payout is 54.66% of the claim with the average claim amount of $7098.87, meaning that we are tasked with recovering the balance of 45.34%, $3218.63, of the claim.
We are also seeing that the agents who are using our support services are not only having fewer claims but the claims they have are below the average claim value. This is a direct result of our becoming involved as early as day 4 of arrears.
Owners can still cover there properties for just $66 per year, tax deductible, that will protect them in the event that a tenant has to be pursued for rent and or damage.
It's important now more than ever!
With the growing financial volatility across the realestate sector, it is now a more important time then ever to be pro-active with your Debt Collection.
We’re here for you when you’re ready to take advantage of our online tools to get your debts under control. Get in touch with our team for a demonstration.
