There are liabilities associated with being a property owner or property manager. Understanding these liabilities and how to minimize or eliminate them is crucial to your business. As a property owner or property manager, you want to keep your rentals occupied at all times. You may prefer to rent to tenants who don’t own pets, but that’s not always possible. Industry studies have shown that landlords who don’t allow pets have 4 percent higher vacancy rates than those who do allow pets.
Obviously, pets open landlords up to more liability. If your tenant has a dog that bites, you can be dragged into a lawsuit. Even though the dog’s owner is liable for the pet’s actions, landlords and property managers can be held responsible as well if they knew the pet was dangerous and didn’t do anything about it or from failing to maintain the fence that enclosed the dog.
In addition, sometimes a landlord will be dragged in because the victim’s attorney will want to sue the person with the most money. They’ll assume that landlords and property managers have deeper pockets than the tenant. Make sure your liability insurance provides coverage in the event a tenant’s pet causes injury. There are certain dog breeds that are excluded from liability policies: Make sure you don’t rent to tenants with aggressive dog breeds.
Another unforeseen risk for landlords and property managers are their tenant’s children. Children can get injured on your property and you will be held liable as the property manager or property owner. Attractive nuisances such as swimming pools, old broken down appliances, etc. are dangerous for children. Anything that you should have foreseen a child would be interested in is considered an attractive nuisance. Even if your tenant’s children are unsupervised, you are ultimately responsible for your property. Children who don’t live on your property can be attracted to something dangerous, trespass, and you are still liable for their injury. You can take precautions to prevent liabilities such as this by locking pool fences, locking power tools, hauling old appliances to a junkyard, and towing away vehicles that don’t run. If you’re remodeling or doing any construction work, never leave materials lying around. If you have large appliances waiting for garbage pickup, remove any doors or covers from them. Make sure your property is clean at all times. Repair pot holes in parking lots and cracks in sidewalks. Put railings on stairways that small children can’t fit through. Contact Us Follow us on Facebook Tweet with Us Join our LinkedIn Group View our Videos Sign up for our Property Management Tips
