Posted on Mar 11, 2021

Property Friends | Property Strategist

Always have a sufficient buffer/reserve to ride out a few challenges that one may face as a property owner. There’s always the risk of fire, storm, flood or wind damage (insurance), various other repairs, tenants “doing a runner”, or your property being vacant.
Property Friends recommends you always have insurance AND a buffer. This does not have to be cash sitting in an account -you simply need to have access to funds. A re-draw/offset account is an ideal solution. An offset account means you have funds at call, but the funds don’t just “sit there”, they’re actually reducing your interest expenses
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