According to one property management expert, laying the right foundations early - including securing the right insurance and choosing the right management team - is not just smart. It’s essential.

Megan Kimpton, Barry Plant Franchise Development Manager for Property Management, started in the real estate industry in 2012, straight out of high school. Leveraging more than a decade worth of experience, she chats to EBM RentCover about the foundations of a resilient investment strategy, the evolving role of Property Managers, and why landlord insurance is more critical than ever.

Start with protection 

Before considering yields, growth, or even tenant selection, Megan encourages investors to think about risk. That means having proper landlord insurance in place before a tenant even moves in. 

“For me, landlord insurance is one of the most important factors of a successful rental investment,” says Megan. 

“Most of us wouldn’t drive around without car insurance, which helps us feel peace of mind that we are protected should something unexpected happen. Landlord insurance is no different.”

Megan adds that accidents can and do happen and landlord insurance is a safety net when things go wrong. And while many landlords think of insurance purely in terms of lost rent, that’s just one piece of the puzzle. 

“When landlords think about landlord insurance, I think they can sometimes just think of lost rent,” she says. “But there are key areas of coverage like natural disasters, tenant damage, pet damage and something like the clean-up of a drug lab that are hugely beneficial features and often overlooked.” 

Megan, who has seen the difference insurance can make firsthand, has numerous examples where it saved landlords from costly bills and long nights. 

“There are dozens of examples where unexpected things happen, with no parties at fault, or sometimes a party is at fault,” she says. “Either way, the peace of mind that insurance provides can save thousands of dollars (sometimes tens-of-thousands) and many sleepless nights.” 

Last year, EBM RentCover received about 6,200 insurance claims and paid out more than $46 million in claims – proof of the value of cover.   

Trust the right people 

Alongside insurance, the selection of a Property Manager is another crucial first step. 

“One thing that every landlord should do to protect themselves and their investments is to really ensure that they choose the right Property Manager for them,” she says. 

Choosing a Property Manager is more than just outsourcing tasks, says Megan, it's entering a partnership based on trust. 

“Understanding that this could look different for everyone, choosing a Property Manager is a huge trust exercise which cannot be taken lightly,” she says. “I think landlords can and should ask all the questions that are important to them... to ensure they’ve chosen someone experienced, professional, and easy to communicate with.” 

Megan says that with a strong support network, including a proactive Property Manager and reliable insurance provider, landlords are better equipped to face what's ahead. 

So, what is ahead? 

Looking ahead for investors, several market dynamics are creating both challenges and opportunities. With economists forecasting possible interest rate cuts within the next 12 months, there may be some relief for investors and owner-occupiers alike. 

“In the next 12 months, economists are predicting that we may see some interest rate cuts, which will provide some much-needed relief,” she says. “We’re hopeful this will also allow new and/or first homeowners into the market, easing pressure on renters.” 

At the same time, a fresh wave of Residential Tenancies Act reforms is expected to take effect before November 2025, and landlords should be preparing now. 

“This will present opportunities in the form of process changes for Property Management professionals,” she says, “but it will also impose harsher restrictions on owners. Whether this will result in more investment properties being sold is yet to be seen.” 

An evolving industry, a proactive approach 

With more than a decade in the industry, from front-line Property Management to a leadership role supporting teams across the Barry Plant network, Megan’s perspective is grounded in real-world experience. 

“My whole philosophy has been built around the idea of customer service and doing whatever we can to help people feel valued,” she says. “Now, I get to champion our Property Managers, help them feel supported, and work with business owners to build departments that are poised for growth.” 

Megan's advice for landlords is clear: don’t wait until you’re under pressure to build your strategy. Start strong, with the right protections and people in place. 

“It’s all about creating the smoothest and most enjoyable experience possible,” says Megan. “Get your foundations right, and you’ll be prepared for whatever comes next.” 

This article was published by EBM Rent Cover on 7 May 2025

Support from a Specialist Partner

EBM RentCover offers swift, expert support. When you call 1800 661 662, you connect with a team that guides you through coverage choices and claims, backed by decades of experience in landlord insurance.

Your Next Steps

1. Check your current cover: Is it tailored to tenant loss, damage, weather events, and legal liability?
   
2. Call EBM RentCover on 1800 661 662 to discuss cover options and claims support or visit their website to get a quote.
   
3. Start strong: Ensure your foundation is set before listing your property - so you’re fully prepared no matter what arises.
   

*While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article