Content provided by Homesource
It is hard to argue the fact that alongside with the pleasure of owing your own home, owing your investment property should give landlords a sense of financial confidence. Given so many landlords rely on negative gearing, cashflow management is a subject close to many people’s hearts. An essential ingredient in managing your cashflow is forecasting and reducing any possible expenses associated with maintaining investment property.
“One of the potentially expensive issues that a landlord may face is broken major appliances. While the cost of appliance repair or replacement is often the last thing investors take into account, replacing or repairing the major appliances may costs hundreds of dollars turning a cashflow positive into a negative”, said Pia Vogel, Joint Managing Director of HomeSource. The failure or breakdown of a hot water heater, oven, cooktop or clothes drier need urgent attention and are often expensive to repair or replace.
“Regardless of the number and initial cost of investment property appliances, if some of them break down, the cost of repair may substantially lighten your wallet. It is, therefore, advisable to consider purchasing appliance cover that could save you considerable amount of money and give a peace of mind”, Ms Vogel said.
HomeSource offers Appliance Cover for landlords, which can help avert the hassle and high costs when appliances* in your investment property face an untimely end. This unique insurance offers you appliance repairs or replacement** for the covered appliances in your home so you won't have to worry.
This revolutionary insurance product is the first of its kind in Australia. It's hugely popular in the UK, where over 68% of consumers in 2008 purchased extended appliance warranties, and in California, USA where approximately 90% of homes sold, have insurances on their appliances and major systems in place at the time of sale. Now Australian landlords have the same opportunity to cover their appliances and protect themself against unexpected costs.
Appliance Cover offers a landlord a simple repair or replacement service for appliances up to 8 years old after a covered event up to $1,000 per claim and $5,000 in aggregate per annum. In many cases it could also be tax deductable.
While the base package contains cover for Clothes Dryer, Hot Water Systems (both gas and electric) and Cook Top and Oven, you can add for a small extra cost, Washing Machines, Air Conditioners, Freezers and Refrigerators.
*As with all insurance products, please read the product disclosure statement prior to purchase to ensure the product is right for you.
**Please refer to the PDS for full terms and conditions.
For more information about HomeSource Appliance Cover, visit the website or call 1300 733 420
The above information is supplied by Homesource.
Disclaimer: while due care is taken, the viewpoints expressed by sponsors do not necessarily reflect the opinions of Your Investment Property.
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