Suggestions for Commercial Property / Landlord Insuranceand: and how it relates to better rates

Hi all,

for commercial property, specifically the generic warehouse type, I am interested in soon doing a refinance and getting that coveted 2.5% rate, as it is more than 1% better than what I’m on!

so I figured the odds are best with renewing the lease on a longer term and updating the insurances.

are there any suggestions you would have for:

- Property Insurance Policies and/or providers
- Landlord Insurance, if it is necessary to improve the chance with the bank?
- Finance providers who would look favourably at generic run of the mill old warehouses

priorities are, in order:

1. favourability to the lender on refinance
2. Cost
3. Actual cover from the policy and the reputation of the policy provider

Are there any other general suggestions you would have on how I can better my chances to hit 2.5% or near with a refinance? Security would be commercial property, and I’m happy to do 50% LVR or lower if required..

Let me know if you need any specifics to help answer my question

thank you so much

 

You're undertaking a risk assessment of the tenant when offering a renewal of the lease, why would you require LLI if you have determined that the tenant is solid?

 

It’s less for me, and more for the purposes of bettering my chances of getting good loans, if it does, it would be good!

The only insurances I know we need for sure are public liability and maybe building related insurances.

Would love to see your opinion on best practice for getting better terms on a refinance, assuming a generic tenant that is not a well known business and not in a COVID negatively affected industry.