Navigating Extreme Weather: A Guide for Landlords and Tenants

Posted By Frank Pang

The recent severe weather in Victoria has highlighted the unpredictable nature of our climate and its potential to cause significant damage to properties and personal belongings. As we reflect on these events, it's crucial for both landlords and tenants to take proactive steps to protect their investments and possessions. This guide is divided into two sections to address the specific needs and responsibilities of each party.

For Landlords: Safeguarding Your Investment

Comprehensive Insurance Coverage

The destruction caused by the recent storms and bushfires underscores the importance of having comprehensive landlord insurance. This type of policy typically covers the building, loss of rental income, and liability. However, it's crucial to ensure that your coverage is up-to-date and reflective of your property's current value and the specific risks it may face.

Preventive Measures

Regularly inspect and maintain your property to ensure it can withstand extreme weather conditions. This includes clearing gutters, securing loose items, and trimming overhanging branches.
Establish clear communication with your tenants about emergency procedures and who to contact for repairs or maintenance issues.

For Tenants: Protecting Your Belongings and Safety

Content Insurance

Your landlord's insurance does not cover your personal belongings. Content insurance is essential for protecting your valuables against loss or damage due to weather-related events, theft, or other disasters. Choose a policy that suits your needs and consider additional coverage for high-value items.

During Extreme Weather: Making Safe and Minimising Damage

Stay Informed: Keep up with the latest weather updates and warnings from official sources.
Make Safe: Secure or bring inside any loose items on balconies or outdoor areas to prevent them from becoming airborne hazards.
Emergency Kit: Prepare an emergency kit with essentials like water, food, medications, and important documents.
Minimise Damage: If safe to do so, take steps to minimise damage to the property by closing windows, moving valuables to higher ground during floods, and unplugging electrical appliances to prevent surge damage.
Communicate: Notify your landlord or property manager of any damage as soon as possible and document the state of the property with photos or videos.

Post-Event Actions

After the weather event has passed and it's safe to do so, assess and document any damage to the property and your belongings. This will be crucial for insurance claims and arranging repairs.

Stay Safe, Stay Prepared

With the recent wild weather hitting Victoria hard, it’s a wake-up call for all of us about the unpredictability of mother nature and the impact it can have on our homes and lives. Whether you’re renting out your property or living in one, there’s a lot at stake when storms roll in. As part of our Bold Property family, we want to make sure you’ve got all the info you need to protect your investments and your personal treasures. Let’s dive into what this means for both our awesome landlords and our valued tenants.

We're here to help guide you through these times, so if you’ve got questions or need a hand with anything, just give us a shout. Let’s keep our community strong and prepared for whatever comes our way.

Stay safe.

Frank Pang

0433 388 898