So my tenants have a trampoline. I ignored it because it's -20 here and it's covered in ice and snow so figured I'd address it in the summer but then my insurance sent a notice that they were canceling the policy because of the trampoline unless I signed an exclusion. Long story short as I researched and talked I decided there is too much risk to me for the trampoline so told the tenants it has to go. They asked if they got their own insurance to cover it and I said yes but they also have to talk to an attorney to have something drawn up that makes them 100% responsible for anyone who uses it. Yes? No? Anyone else have a tale to tell?
From stories I have heard from other landlords in the area where I live I would tell them it has to go because your insurance will still probably cancel. We had a similar situation a couple years ago and after we explained it was not our rules but the insurance they still did not like it but the trampoline was gone. They need to realize it is nothing personal...it is just business.
You're still going to be named in the lawsuit no matter what agreement they have drawn up....
I’d go with your plan. Most people are decent. If they get their own insurance and you have an agreement they are responsible I would feel incredibly safe anyway.
I’d actually not go with your plan. But as you’ll find your attorney will agree. The trampoline is an attractive nuisance meaning someone is going to pay when anyone gets hurt (even a trespassing child).
Then compound how much is a child worth? Obviously priceless.
So kid sneaks onto the property when your tenant is out. Breaks neck and has life altering paralysis. The future medical bills are in the millions.
How much will your tenants insurance pay? $100,000; $500,000? Did they even keep it in force.
Guess how long the judge will allow your hold harmless against the tenant? Until they are out of money, and then he’s allowing then to go after you.
That’s how the law works a waiver, hold harmless, indemnity agreement are only as good as the person you have signing them’s ability to pay.
Your coverage will have and exclusion. And all of this could have just been avoided by a small dose of risk management (enforcing they remove the trampoline).
Never allow trampolines, never allow a tenant to convince you otherwise, never trust a tenant when they make promises they have no control over.
Get rid of the trampoline before some neighbour kid gets injured and the parents file a law suite.
Mitigate risk by always saying NO.