Indemnification Clauses for Property Management
My Property Manager is retiring, so I'm looking for someone to fill his shoes. Full management package & 2-units to manage. I've reached out to a few agencies, but the indemnification clause is a sticking point. I'm not writing a blank check for boundless categories of harm for them and anybody/everybody they employ to work on the properties. I expect the firm to have Business Insurance, E&O and umbrella policies for such matters.
If you were hiring a licensed professional to do work for you – your doctor, attorney, landscaper or plumber and they asked you to indemnify them against whatever goes wrong, I think you’d look for another provider too. Yet, Property management firms around here are fine asking for that. My current PM waived the clause. What am I missing? How have others handled this?
Thoughts, Solutions?