Managing properties is not without risk. In fact, one of the biggest dangers of being in charge of a property at which you don’t reside is the chance of someone (a resident or guest) getting hurt and filing a personal injury lawsuit. Not only can these things cost you a lot of money, but they’re also a huge drain on your already busy schedule and they can really damage your reputation. To avoid this headache, here are 5 proactive things you can do to protect yourself.
Conduct regular inspections
Ideally, you should be inspecting your properties daily, but in reality this isn’t always feasible. If you’re super busy and manage multiple properties, you can probably get away with doing this once a week, but no less. When inspecting, walk the entire grounds and check all common areas, such as hallways, stairs, railings and lighting. If you notice something wrong, get it fixed right away.
Get your free copy of The Property Manager’s Guide to Proactive Management — and make the time necessary to plan for an extraordinary future.
Issue appropriate warnings
If and when there is something wrong with the property that may pose a risk to your renters and/or their guests, be sure to communicate this clearly to everyone. You can inform your residents via email or in person, but you should also post warning signs or tape off areas that are particularly risky so that those who are not on your contact list will also be aware. Take time and date stamped photographs of your posted warnings, just in case.
Take extra caution with pools
If your property has a pool, regardless of whether tenants are allowed to use it or not, take extra care to safeguard the area and protect yourself from liability. Keep the pool area fenced and locked at all times. Paint the words “No Diving” along the sides of the pool and post warnings about risks, such as no lifeguard being on duty. The more thorough and detailed you are the better.
Keep children safe
Some properties have playgrounds or other equipment for children to enjoy. If yours is one of them, be sure to regularly inspect all equipment to make sure everything is secure and there are no hazards. Keep a gated fence around the playground area and again, post a sign with safety rules and warnings.
Document and have an attorney on hand
The most important thing you can do to protect yourself against a possible lawsuit is to be adequately prepared ahead of time. Make sure that every sign, notice and repair is documented through time stamped and dated photographs. Over-communicate and be thorough in everything you do. And have an attorney that you can consult if and when the need arises. In these cases, the best defense is a good offense.
What measures do you take to keep your properties safe for your tenants and guests? Please share!
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Get your free copy of The Property Manager’s Guide to Proactive Management — and make the time necessary to plan for an extraordinary future.
