As a landlord, you are worried about the risks that you are exposed to when renting your property: we estimate that 39% of landlords in Canada already had tenants who damaged their rental.
Our new insurance product makes the difference between four types of damages: theft, malicious damages, accidental damages and non-malicious damages. What are we talking about and how are you covered? How to protect correctly your rental? Discover how this new coverage will help you to avoid a bad experience that could be expensive for you.
If you rent your property, you expose yourself to the risk of seeing your tenants leave with your furniture or your belongings.
It is the bad experience that occurred to a landlord in the city of Asbestos in Estrie, QC: the tenant left the rental, not only without paying the 6 months of rent that was due, but also with all the furniture of the house. When leaving, the tenant left the place in a state near to insalubrity, making the apartment uninhabitable for a few weeks.
And it does not stop here! The tenant also bought diverse materials and other furniture at the cost of his landlord, justifying to the shop that they were renovating the rented place. The total damages is estimated at around $18 000, including the unpaid rent, the stolen goods and the materials bought.
As a landlord, consider getting coverage in case your tenant steal your goods! If a tenant leaves the dwelling with your furniture, APRIL Rental will cover the expenses, and this up to $50 000.*
An intentional damage – or malicious – is caused intentionally by malice or by desire of vengeance.
If you have a bad relationship with your tenant or if he is simply dishonest, he can caused damages to your rental.
Unfortunately, it is what happened to the house owner in Shannon, QC: for several months, tenants stopped paying the rent of $1500. After months of procedures with their rental board, the landlord finally succeeded in evicting the tenants. When taking back possession of the rental, the furniture disappeared, and the place needed major renovation, especially after the floor was full of dogs’ excrements.
Malicious damages are a type of damages you need protection against. You do not want your rental damaged by dishonest tenants and a bill to pay. With APRIL Rental, this coverage will pay for the renovation up to $50 000*.
Accidental damages are the damages that are the most common in rentals.
An accident can occur any time by either your tenant, or his family or guests. If your tenant does not have insurance and he or his guests are responsible, the liability will not cover the damage. However, home insurance for the tenant is not mandatory and an accident can be expensive, even for the landlord.
It is what happened in Ottawa, when the province was hit by violent winds last year. The tenant left the garden furniture outside, including the beach umbrella. The umbrella flew away and broke the window.
APRIL Rental covers this type of damage up to $25 000 according to your policy.*
Non malicious damages
A non-malicious damage is a change made by the tenant without the intention of causing damage, which will affect the functioning or the quality of the rental. It is not a proper damage, but a change without the landlord’s agreement.
- The tenant paints all the walls in black
- The tenant changes the organization of the rental
- The tenant removes a door
For non-malicious damages, APRIL rental insurance would reimburse 500$ per claim.*
To be sure that you will not need to reimburse your tenants’ damages, take the right insurance!
|Theft||Up to $50,000|
|Malicious damages||Up to $50,000|
|Accidental damages||Up to $25,000|
|Non malicious damages||Up to $500 per claim|
*Under conditions. In case of claim, a study of the case will proceed. These amounts are valid for the year 2019.
Do not forget: one of the key element to avoid damages in your rental is to keep good contact with your tenant and have a good relationship with him. Do not hesitate to visit the rental twice a year! For further information, keep reading with our article on our 10 advices to build a successful relationship landlord/tenant.