Tenancy administration
Claims about leases, bonds, arrears, notices and tribunal handling.
Property Manager Professional Indemnity
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Property Manager Professional Indemnity
Professional indemnity for residential and commercial property managers.
Property management claims come from small administrative gaps with expensive consequences. A bond not lodged, an inspection not done, a repair request never passed on before someone is hurt, or a lease renewed on the wrong terms. Professional indemnity generally responds where a landlord, tenant or owner says the way the property was managed caused them loss.
What is it?
Property managers handle leasing, rent collection, arrears, routine inspections, maintenance coordination, bond administration and tribunal matters across residential and commercial portfolios, from single investment properties to rent rolls of several hundred. Agents are licensed state by state under fair trading and property agent legislation, and licence conditions in several states include holding professional indemnity insurance and operating a compliant trust account.
What does property manager professional indemnity cover?
Inspections and maintenance
Exposure where a defect was missed or a repair was not actioned.
Funds and staff dishonesty
Claims involving money held, with fidelity cover usually a separate section.
What affects the cost?
- Number of properties under management
- Residential, commercial or mixed portfolio
- Trust account balances held
- Staff numbers and turnover
- Claims and tribunal history
Worth raising on the call
- Employee dishonesty is generally a fidelity section, not part of professional indemnity.
- Licence conditions differ by state, so a limit that satisfies one may not satisfy another.
- Managing your own or related-party properties can fall outside the insured business.
Claims we are commonly asked about
Bond never lodged with the authority
A tenant's bond sits in the agency account for months instead of being lodged with the state bond authority, and the tenant applies to the tribunal at the end of the tenancy. The agency faces a claim for the money and, separately, a fair trading enquiry into its trust account handling.
Repair request not passed on
A tenant emails about a loose balcony balustrade and the request never reaches the landlord or a tradesperson before a visitor is injured. The landlord's liability insurer looks to the agent for the part of the loss attributed to the failure to act on the report.
Inspections missed for a year
Routine inspections are not carried out for four quarters and undisclosed pet damage plus a slow leak behind a laundry cupboard go unnoticed. The landlord claims the difference between what a timely inspection would have limited and what the eventual repair cost.
Worth confirming in the wording
- Worth confirming whether theft of rent or trust money by an employee is addressed, since employee dishonesty commonly sits under a separate fidelity section rather than professional indemnity.
- Worth confirming whether properties owned by you, a director or a related party but managed through the agency fall inside the insured business.
- Worth confirming how a failure to arrange or renew landlord insurance on an owner's instruction is treated under the wording.
Common questions
Is professional indemnity required to hold a property agent licence?
It depends on the state. Several Australian jurisdictions include professional indemnity in licence conditions or in the rules for operating a trust account, and the required limit is not the same everywhere. The current requirement should be checked with the fair trading or consumer affairs regulator in each state you are licensed in.
Does it cover rent the tenant never paid?
Generally not on its own. Unpaid rent is a debt between landlord and tenant and is usually a landlord insurance question. Professional indemnity typically responds only where the arrears are said to flow from something the agent did or failed to do, such as not acting on arrears or not issuing required notices, subject to the policy terms.
Does the landlord's insurance cover me as the agent?
Generally not. A landlord policy is arranged for the owner's interest in the property and does not usually respond to a claim that the managing agent's own conduct caused loss. Agents commonly hold their own professional indemnity, public liability and fidelity arrangements for that reason.
What does property manager professional indemnity cost?
It depends rather than sitting at a fixed price. The usual drivers are the number of properties under management, whether the portfolio is residential, commercial or mixed, trust account balances held, staff numbers, the limit required by your licence conditions and your claims and tribunal history.
General information only. Cover, limits and exclusions depend on the PDS, TMD, eligibility, underwriting and the policy terms. See professional indemnity insurance for the wider picture.
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