We are switching property management companies in CA for our 4 plex and one of the terms on the new manager's agreement is as follows:
Indemnify, defend and hold harmless Property Manager, and all persons in Property Manager's firm, as permitted by law, from all costs, expenses, suits, liabilities, damages, attorney fees and claims of every type, including but not limited to those arising out of injury or death of any person, or damage to any real or personal property of any person, including Owner, (i) for any repairs performed by Owner or by others hired directly by Owner; (ii) for those acts relating to the management, leasing, rental, security deposits, or operation of the Property by Property Manager, or any person in Property Manager's firm, or the performance or exercise of any of the duties, powers or authorities granted to Property Manager;
Anybody else see Indemnity clauses in their property management agreements?
I understand that if I'm doing work or hiring for work on the property they should be held harmless, but seems to me that the property management company should be responsible for their own actions. Just wondering if anyone else has seen this in their agreements, and if so can you share what you signed up for.
My PM contract has similar verbiage. I also have to name them on my insurance policy