Renter Liability

General Real Estate Investing
1

Does anyone have renters sign a “release of liabilty” form?

I was having a discussion with my Realtor’s assistant (who is also a Realtor but apparently not a really great one but she is a good assistant) about them. Specifically, I provide each of my rental properties with a lawn mower so there is no real excuse for not keeping the lawn cut. She said her brother-in-law (who she descibed as “not the sharpest tool in the shed”) was a renter and turned the owner-provided mower upside down and put his fingers in the the area of the moving blade (yeah, I’m guessing her assessment of him is ‘right on the money’). She said that he was given a large settlement from the insurance company of the property owner.

Keith

2

How about you go find a local gardener that you can hire to take care of all your properties. Then raise the rent to cover it, take the expense as a cost of ownership. Then you don’t have to worry about the yard or the moron.

3

those release of liability forms are a waste of time as if the person it serious about sueing that will not deter them.

Given that trials are very expense, I would guess the “big settlement” was $25k or something just to make the guy go away. I am sure as part of the settlement, they accepted no liability and banned the potential plantiff from any further action on the incident.

This is why you have liability insurance (IMHO)