Property management liability

[Nathan Gesner]

I am a new agent interested in property management. I have read a few books on RE investing and own two properties that I manage myself. However, I have a lot to learn about managing property for otheres.

I currently work under a broker and she is concerned about additional liability with property management (being sued by a tenant or the homeowner). I'm wondering what I can do to limit/eliminate her liability and remove her worries. For example, if I manage a property and the contract is with me, can a client still sue my broker since I'm operating under her license?

Her brokerage is an LLC. Can I own a separate LLC and still operate under her license, thereby protecting her from any liability?

If anyone has information about this, or can point me in the right direction, I would sure appreciate it. I plan on speaking with a lawyer soon to get a better understanding of all this and put her worries at ease, but thought I would see if anyone else has experience in this first. Thanks in advance!

[Steve Babiak]

Find a broker that already does property management; you will have the broker approval far more easily, and you will have mentoring as well from the experienced folks already doing their PM.