Regardless of the field one specializes in, accidents are an ever-present probability. Many may believe managing a property poses very little risk. But, for property managers, carrying insurance is a must to avoid any future legal disputes. When you need assistance caring for one or more properties you own and wish to put on the rental market, choosing a fully insured manager can lessen the impact of any discrepancies. There are a number of reasons why property managers carry insurance, two of which include protection from personal injury lawsuits and discrimination claims. If you are in the market for professional property management, Memphis managers offer outstanding services protected by liability insurance coverage.
PI Claims
Property managers are responsible for overseeing any remodeling and maintenance that takes place on your property. Unfortunately, any environment that contains tools, equipment, heavy objects, and other hazards holds the potential to cause an injury. Generally, managers work with other in-house employees, licensed contractors, and experienced handymen to complete any necessary work. If a worker sustains an injury when under the supervision of a property manager, there is always a chance they will file a personal injury claim against them. Liability insurance prevents lengthy legal battles and minimizes the chances a property manager will need to hire a defense attorney.
Alleged Discrimination
Professional property management Memphis normally include tenant screenings and assistance with tenant selections. Tenant screenings are completed to make sure an individual can afford the monthly rental payments and does not pose a threat to their fellow renters. Individuals who do not pass screenings are informed by a property manager. Because a person’s employment history and background are assessed through screenings, it is not uncommon for a discrimination claim to be made. Insured managers are better protected from discrimination lawsuits and will help keep your investment running smoothly by avoiding time-consuming legal disputes.
Real Property Management provides competent, fully insured services to their clients. With over 25 years of experience in managing investments, you are guaranteed satisfaction.
