In todays property and rental market it is essential that landlords protect themselves as much as possible.One way of doing that is to take out Landlord insurance.This is an aid to the landlord or owner of a rental property.There are a number of companies in South Africa that offer this kind of cover and it has helped many a landlord in the past.

It usually works on the principal of the premium paid being used to cover the rent a tenant would pay in the event that the tenant defaults or gets evicted.It covers approximately 3 months rent and can also cover the cost of evicting the tenant depending on which company you use.

Statistics have shown that up to 28% of tenants nationwide have either paid their rent late or not at all in recent months.It all coincides with a decrease in disposable income in households and fewer people being able to buy their own homes due to the new lending policies being enforced.

Also,knowing you have landlord insurance will relieve alot of stress in the event of having a defaulting tenant.In many instances landlords resort to illegal tactics to make life difficult for their tenants such as disconnecting utilities.This is illegal and you will put yourself at great risk by doing it.There are many policies in place to protect tenants from unfair eviction,so why not protect yourself as a landlord and get the insurance necessary to set your mind at ease.

Shop around to get the best deal and always investigate the legalities involved in evicting a tenant, for your sake and theirs.