What Insurance & Which Company?

[Wayne]

Do you people with AMI (or your PM) do 3 monthly inspections?
Currently I get 6 monthly inspections and I'm not sure what the PM would say if I asked for 3 monthly

[donthatetheplayer]

On my AMI policies I have:

no excess for glass or sanitary fixtures claims
cover for theft or deliberate damage by tenants
cover for tenants vacating without notice
lost rent cover

I thought my policies required 6 monthly inspections. Upon review I see it states 3 monthly. I believe this is a new thing. Looking at an older policy document from 2013 there is nothing about inspections being required at all. I had in my head 6 monthly. I assume it would only matter if your claim could have been prevented / minimised had 3 monthly inspections been undertaken. I will query this point with AMI. 3 monthly is not really acceptable from a landlords point of view.

This is the policy - Premier Rental Property Insurance
This is the policy wording.

On a unit I have the bodycorp insure through Orion. They are by far the cheapest for bodycorps we have found. I have claimed through them before and they were ok to deal with. Not as easy as AMI.

[PTILoveYou]

Regardless of policy, inspections should be carried out every 3 month (unless the tenant is the best in the world)!

[Wayne]

Regardless of policy, inspections should be carried out every 3 month (unless the tenant is the best in the world)!

I presume, then, that your PM does them 3 monthly?

Is that the same for other here?
Maybe my PM is slack!

[donthatetheplayer]

Regardless of policy, inspections should be carried out every 3 month!

Why is that Gary?

[PTILoveYou]

I presume, then, that your PM does them 3 monthly?

Is that the same for other here?
Maybe my PM is slack!

There is option for 3 months or 6 months for my PM, and I specifically chose the 3 monthly option.

[PTILoveYou]

Why is that Gary?

Keep the tenant in check, and also check for any maintenance things required.

6 months is usually too long, though some of mine I manage myself I do only 6 months, because the tenant is fantastic. I probably shouldn't do that but I'm very lazy!

For the ones where my PM manage, my pm inspects every 3 months.

[donthatetheplayer]

3 months seems rather arbitrary. Why not 2 months, or 4 months? I agree it depends on the tenant. Even though I have been formally doing them 6 monthly I am at the properties much more frequently than this for maintenance / repairs etc so I can keep an eye on properties almost monthly. If I didn't live so close to my properties this wouldn't be convenient.

I guess I will have to implement formal 3 monthly inspections but 90 days is a short time-frame. That's 4 inspections a year. Tenants will feel like they are in boarding school!

[Wayne]

There is option for 3 months or 6 months for my PM, and I specifically chose the 3 monthly option.

Does that then cost more?
If so how much more?

[elguapo]

Tenants will feel like they are in boarding school!

I think that is Gary's intent!

[PTILoveYou]

Does that then cost more?
If so how much more?

My PM charges $30 per inspection, so I pay $60 more per year.

[PTILoveYou]

I think that is Gary's intent!

Some tenants need to be kept in check ;-)

[PTILoveYou]

3 months seems rather arbitrary. Why not 2 months, or 4 months? I agree it depends on the tenant. Even though I have been formally doing them 6 monthly I am at the properties much more frequently than this for maintenance / repairs etc so I can keep an eye on properties almost monthly. If I didn't live so close to my properties this wouldn't be convenient.

I guess I will have to implement formal 3 monthly inspections but 90 days is a short time-frame. That's 4 inspections a year. Tenants will feel like they are in boarding school!

If I feel I need to inspect the tenant every 2 months instead, then I might as well just give them the 90 day notice...

One tenant is very close for me to dish out the paper work...

[donthatetheplayer]

If I feel I need to inspect the tenant every 2 months instead, then I might as well just give them the 90 day notice....

I'm thinking the same thing about 3 monthly inspections. A good tenant doesn't require more than 6 monthly in my view. It's bordering on invasion of tenats privacy at 90 days. But yeah if bad tenants you have to do it.

[Wayne]

I'm thinking the same thing about 3 monthly inspections. A good tenant doesn't require more than 6 monthly in my view. It's bordering on invasion of tenats privacy at 90 days. But yeah if bad tenants you have to do it.

But if the insurance company insists you have no option really.
Otherwise you are paying for something that you won't get at claim time.