LSG Insurance Services

In most landlord-tenant disputes, it is the owner of a property suing the tenant for arrears rentals, damages, unpaid utilities or eviction.

So how do you mitigate against this unforeseen but very real claim or liability?

Take out insurance to cover the risk. This is prudent and necessary, but how much insurance is enough? well you can never have enough, but as a start LSG has launched Tennant Sure a standalone Tenants Liability insurance which gives peace of mind to both landlord and tenant. The landlords duty is to hand over the dwelling for occupation to the tenant in a reasonable condition and the tenant has the same duty to return the dwelling to the landlord in the same condition. Often is the case that the property is damaged and a battle ensues, Tennant Sure provides R500,000 insurance cover against unexpected and unintended damage or breakage caused by sudden and external means for which the tenant could be held legally liable.

What the policy does is ensure that both parties are covered in the event of damage and without the misery and costs of legal action!

Before taking occupation of the dwelling, the tenant and the landlord must inspect the dwelling [S5(3)(E)]. This inspection allows the parties, asthey walk through the dwelling, to list any defect or damage that the landlord has to repair.

The list of defects or damage must be attached to a written lease [S5(7)]. Where an oral lease is entered into, it would be advisable for both parties to sign the list and to have the signed copies in their possession.

The inspection or inventory list is very important because:-

1. It is the proof of the landlord’s duty to carry out the repairs needed or put right any damage.
2. When vacating, the tenant’s deposit is not witheld for defects or damage that the landlord was required to repair.
3. The landlord can hold the tenant responsible for any defect or damage caused by the tenant, the tenant’s visitor or household member [S4(5)(E)].
4. The landlord cannot hold the tenant liable for any damage if he or she fails to inspect the dwelling with the tenant [S(3)(J)] before the tenant occupies the dwelling and jointly inspects it three days before the lease expires.
5. In the event of damage caused by the tenant, the landlord can use the deposit and the accrued interest for the cost of repairs [S5(G)]

It is therefore in the Tenant’s interest to carry out any repair he or she is responsible for. The rights and duties of the tenant and the landlord are protected when joint inspections are carried out at the beginning and at the end of the lease period.

[source: Tenant and Landlord-A guide to the rights, duties and obligations of tenant and landlord in South Africa]

A few useful tips when completing the application:

1. Ensure that your Annual Income equals a maximum of 12 x your monthly salary chosen.
2. Mark the date clearly that you want the cover to start.
3. Reflect email address so we can confirm receipt of cover and start date.
4. Complete all personal details.

Now that you have taken out the Personal Trainer Income Protection Plan, you have insured your salary in the event that you are unable to train your clients. If you have an accident, you need to be booked off by your Doctor for 7 days and the cover will pay back to the first day of your accident (if you chose cover from Day 1) accident is defined as anything happening in a moment of time that causes damage to your body, it is not just a car accident, but can be something simple as picking up weights in the wrong position and causing damage to your muscles.

You are now also covered for illness and have to be booked off for longer than 14 days and then the benefit will pay back to the date of diagnosis.

Your cover will pay out for a maximum period of 12 months. It is important to note that the cover is specific to your occupation and your benefits become payable due to your inability to continue with your nominated occupation as a Persoanl Trainer.

So if you are unable to train your clients due due to having an accident or illness, rest assured you will still receive income!!

Personal Trainer Melissa – Bronchitis

What started out as a simple flu turned into bronchitis causing Melissa to spend 3 days in hospital, she was unable to train her clients for three weeks. Luckily Melissa insured her estimated salary of R27,000 a month against events such as this. For the three weeks of not being able to train Melisa received a total payment of R18,900. If she had not taken out the cover she would not have been able to cover all her monthly expenses.

Personal Trainer Mike - Bicycle Accident: Mike earns an estimated income of R18,000 a month as a trainer, he insured himself for his full salary under the Personal Trainer Income Protection Plan. Mike had a bicycle accident and broke his ankle … Continue reading →

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