Insurance claim by property manager? 1st timer..

Dear all, it's only few months into my first ever IP, and my first tenant is acting up already. 1 month rent in arrears and property manager is issuing an eviction notice.

My question is, when and how do I claim my landlord insurance? I know it covers all the rent defaults, and even two weeks after tenant vacates.

Can I claim this if I don't have to go through vcat? (Tenant leaves obediently)

Does the property manager take care of this without my actions at all? I'm awaiting a response from my property manager but I got anxious.

:( bad start to the new year....
 
Depends on your policy and insurer, consult your PDS and give them a call to clarify and questions you may have as each insurer has different T&Cs.

If you provide your insurer someone may have the same policy and be able to provide specifics.

From my readings generally:

* You may find you needs a VCAT ruling to claim loss of rent.
* You rental arrears may not include the first 4-6 weeks.
* You should be able to reclaim some costs from the bond.
* Some insurers will require an excess to payable for rent claims some won't.
 
Dear all, it's only few months into my first ever IP, and my first tenant is acting up already. 1 month rent in arrears and property manager is issuing an eviction notice.

My question is, when and how do I claim my landlord insurance? I know it covers all the rent defaults, and even two weeks after tenant vacates.

Can I claim this if I don't have to go through vcat? (Tenant leaves obediently)

Does the property manager take care of this without my actions at all? I'm awaiting a response from my property manager but I got anxious.

:( bad start to the new year....

yes pm should do it all without getting you involved.
You need a statement of debt that you can get from tribunal.
the tenant needs to be completely evicted and everything done before a claim.
You need a start date for the next tenancy - so they can see where the rent needs to be paid up to, property needs to be advertised as soon as you get eviction notice. You will need the NEW lease as proof.
You need all invoices that you are claiming so property needs to be cleaned, leased and done.
you need INVOICES from Re agent for lease break costs.

steps are:
1.evict tenant
2.get it rent ready
3.get it re-tenanted
4. tribunal to establish debt - you don't need to do this step but makes your case stronger and unlikely to be argued with. - need new lease to establish debt.
4. claim losses on insurance.

the above is the same regardless of the insurer you are using - what differs between companies is what is claimable and the excess you need to pay.
 
Thanks for the replies so far.

I'm with ANZ Landlord Insurance. From what I read, payable excess is $250.

Claimable:
- All rent defaults payable up to $5,000 (after minus bond recovered)
- legal fees (I assume it means tribunal fees? But it says it must be agreed prio to incurring the cost, doesn't this mean filing a claim now, before all the tribunal thing happens?)
- Two weeks rent after tenant vacates (not up to new lease as some of you suggested?)
 
Legal fees agreed to - are the fees charged by an agent for tribunal representation - they will ask for a copy of the management agreement to ensure it is written in there.

It's truncated to 2 weeks because Anz is a non specialist company!
If you were with TS or similar it would be to beginning of new lease and zero excess on default claims.
 
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