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Claiming loss of rent - AAMI

Discussion in 'Property Management' started by beachgurl, 17th Dec, 2015.

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  1. beachgurl

    beachgurl Well-Known Member

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    18th Jun, 2015
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    Sydney
    Has anyone had success claiming loss of rent in a periodic lease with AAMI? The tenant has been an erratic payer so we didn't offer her a second fixed term lease. As she was 2 weeks out of the fixed term lease at the date of the current arrears I've been told they would pay only 2 weeks rent rather than 13. So the excess would be higher than the claim. Happy days.
     
  2. Xenia

    Xenia Adelaide Property Manager Business Member

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    21st Jun, 2015
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    4/136 The Parade Norwood, South Australia
    Yes we've put claims through AAMI before, they pay bits of it and make up their own rules on lease end dates.

    Use one of the specialist insurance companies - Terri scheer, property insurance plus or EMB, the insurer has to first understand investment properties and leases before they can insure them.
     
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  3. beachgurl

    beachgurl Well-Known Member

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    Sydney
    I transferred the rest of my portfolio to EBM earlier this year but as this tenant was in arrears I couldn't move this policy across. As soon as the sheriff gets this woman out I'll change it.
     
  4. brettc

    brettc Well-Known Member Business Plus Member

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    19th Jun, 2015
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    Gold Coast
    The "periodic tenancy" or "lease continuation" catch is a ripper with some of the major direct insurers, we hear this one all the time unfortunately. It often gets down to their definition of a lease as they require it be a "fixed term" without provision for it to include a "tenancy at will" which immediate follows the fixed term, so once it expires the rules often change.