Insuring Against Liability

Property owners are always at risk of being sued by errant tenants or their guests. It is a fact of doing business, according to professionals in property management in Mesa, AZ. Lawsuits can arise not just for injury, but for wrongful eviction; discrimination; false accusation of criminal behavior, libel, or slander; trespassing or repeatedly invading a tenant's privacy; assault; sexual harassment; reckless or intentional acts; failure to keep the premises habitable; and violations of health and safety laws, including environmental hazards.

Part of smart business planning includes protecting oneself from personal liability through landlord insurance and other means, including preventive measures. Preventive measures include diligent oversight and correction of any safety hazards that may be present on the property. In Arizona, pool safety is a big consideration, and there are a number of hoops to jump through to satisfy state regulators that everything possible has been done to prevent injury. All these steps are worth taking because, by doing so, you protect your tenants from injury, number one, and yourself from liability, number two.

Liability insurance is also essential, and you should cover yourself to the extent that you can afford. It will give you peace of mind to know that you won't lose everything in the event of a lawsuit. To protect your personal holdings, consult an attorney about forming a Limited Liability Corporation (LLC) to hold your rental properties separate from your personal properties and assets. A qualified Arizona property manager understands your liability concerns and works to limit the possibility of lawsuits in every possible way.

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