The Australian Government has announced a moratorium on rental evictions. As of 29 March 2020, for six months, tenants cannot be evicted due to unpaid rent.
Since then, insurance companies have withdrawn landlord insurance policies from the market as they reassess their products. This may affect new landlord insurance customers who may now be unable to find cover due to these unprecedented events.
Should you already hold landlord insurance, and your tenant has lost their job to COVID-19, you may be able to claim the loss of rental income, depending on your policy. You should contact your insurer to discuss any questions you have about your coverage in claiming on any lost rental income, as well as read through your product disclosure statement.
It may also be worth reaching out to your real estate agent or tenants (if they haven’t contacted you already) to see if they may face trouble paying rent.
Last update: 06/04/2020