Title: Simple Tips To Protect Your Rental Property From Liability & Lawsuits
Headings: Simple Tips To Protect Your Rental Property From Liability & Lawsuits
Simple Tips To Protect Your Rental Property From Liability & Lawsuits
Use a property manager
Create corporations or LLC’s
Homeowners insurance
Free and clear is not always best

Content: If you are more limited in your options, it is best to consult with professionals to get the best advice on what coverage and precautions you should take. Use a property manager
Managing your properties or someone else’s increases your liability. There have been cases where an evicted tenant hurt themselves while moving out and turned around to sue the property manager. The tenant claimed that the landlord had broken his TV and left the glass in a window well. When he fell in the window well while moving, he claimed the injury was the fault of the landlord. Tenants can make a lawsuit out of almost anything, so it is best to be prepared. Even after lengthy court cases and a verdict in favor of you, there is still a valuable lesson to learn. It is critical for landlords to have insurance; with liability insurance to cover issues like this the legal fees would have been covered. Talk to your insurance agent about getting liability coverage.