We manage a large number of properties around the Brisbane region. So, when announcements start getting sent out about severe weather patterns property managers start strapping on the head gear, getting the high vis out and bracing for impact.Many of our colleagues around the state, especially in north Queensland, have been inundated by calls of damage but in the inner city Brisbane region we faired quite well.The main areas of damage have occurred in flood prone areas or with properties that had pre-existing roofing issues.It is however a timely reminder for investors of the importance of insurance and addressing maintenance requests as quickly as possible.Insurance premiums that include flooding have spiked since the 2011 floods. Adding a flood cover to your policy can add thousands of dollars to your premium, so the question is often asked “do I need it?”.The large majority of the contents will be the tenants responsibility and fall under their contents insurance, which means even in times of flooding you may not need to claim.So its not always necessary. But it is insurance and when you need it you tend to really, really need it.Our advice to clients relates to ‘return on investment’, how much will it cost and can you afford to cover it if the worst happens? The answer to those questions holds the answer.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor6 hours agoWho’s responsible for the clean up when big storms hit.Planning for these emergency situations will ensure that when disaster strikes you and your property are as protected as possible.However, where costs can shift from tenant to landlords are in those situations where there are pre-existing requests for maintenance about leaking rooves or where blocked drains have gone unanswered.This can potentially put landlords in the firing line if they haven’t acted on these requests and what would have been a tenants cost can now be passed on to the owner.In this age of litigation and when consumer protection watchdogs are at their most alert it is essential landlords are up to date with their responsibilities. Maintenance must be kept up to date and there is now even more compliance certification needed.There is a lot of bottle neck legislation that pushes compliance onto landlords. Currently it’s a landlords responsibility to ensure safety switches are complaint, smokes alarms are checked and serviced as well as pool fences all certified to current state compliance laws. Checking these items has now created an entire industry of compliance services businesses and there will be more checks to come.Owning an investment property does come at a cost and providing shelter similarly comes with a responsibility. Every property investor should be allocating a portion of their annual budget for prevention maintenance, reactive maintenance, insurance and compliance.
Russell Westbrook … Oscar Robertson … Michael Jordan … Elfrid Payton.Elfrid Payton? “Honestly, personally, it hasn’t sunk in yet,” Payton, 25, said when asked about joining the elite list. “I’m just trying to hoop, play at a high level. I’m just glad we got the win.”Pelicans coach Alvin Gentry was more effusive. That’s right, the Pelicans guard on Monday joined a who’s who of NBA all-timers when he recorded a triple-double in his fifth consecutive game, putting his name alongside Westbrook, Robertson, Wilt Chamberlain and Jordan.19 PTS | 10 REB | 11 AST@elfrid joins Russell Westbrook (4x), Oscar Robertson (3x), Wilt Chamberlain (2x) & Michael Jordan as the only players in @NBAHistory to record 5 straight triple-doubles! #DoItBig pic.twitter.com/…— NBA (@NBA) March 19, 2019The 6-foot-3 Payton had 19 points, 11 assists and 10 rebounds Monday in New Orleans’ 129-125 overtime win at Dallas. Despite Payton’s recent productivity, the victory ended a six-game Pelicans losing streak. Related News Dirk Nowitzki moves to 6th on NBA all-time scoring list, passes Wilt Chamberlain “He’s been playing that way for us. … The rebounding part to me has been the thing that’s been the biggest surprise. To be a point guard and be able to come up with double-digit rebounds night after night after night, that is really tough to do,” Gentry said. “Any time they mention you in the same breath as Westbrook, you have to feel really good about it. If they mention you in the same breath as Oscar Robertson, that’s a whole ‘nother area.”That 5th straight triple-double mood. 👀 pic.twitter.com/SO5aW9k5sO— New Orleans Pelicans (@PelicansNBA) March 19, 2019Payton is averaging 15.6 points, 12.8 assists and 12.0 rebounds during his streak, compared to 10.5 points, 7.3 assists and 5.4 rebounds for the season.Monday was a night for milestones in Dallas, as Dirk Nowitzki, 40, passed the legendary Chamberlain to move into sixth on the NBA career scoring list. Nowitzki accomplished the feat when he netted his 31,420th career point.