Hello, I'm purchasing a 4PLEX and wanted to know if its a good idea to include the property manager (PM) in the insurance as additional insured? My insurance is under a LLC.
Absolutely! The property manager should definitely be added. Property managers are potentially liable for almost everything that occurs on property they manage. They should require you to add them before ever performing any work on your behalf.
CA DOI License # 0K51144
@Vlibhu Arya. Don’t add your PM you control the insurance payout and who gets what money. You let you PM tell you how much the work will be and then you deal with it. I never name my property manager on my insurance.