Possible liability issues with the wet basement?

[Rahul Gupta]

We are planning to rent out our SFR which has a finished basement, but worried about the water seepage sometimes.

We are worried that if we rent out the property, disclose it fully to the renters, and then if they slip and fall, can they sue us? I was reading some blogs and nearly all blogs say that for any lawsuit to go through, the landlord must have been aware of the situation and neglected the issue or did not fix the issue. Would this situation not fall under that category even if we have the tenants acknowledge and sign the fact that the water does come in the basement sometimes?

We are completely new to this so any help will be appreciated. 

Thanks in advance.

[Sergey A. Petrov]

A finished basement with water is not a finished a basement in my mind. It is like renting a house to someone saying the roof leaks in these 7 spots every time it rains, would you sign a waiver of liability? You should find and cure the source of the leak. It is not just the slip and fall liability. If it is finished, there is drywall, insulation, and electrical in there. Neither one plays well with water