All Forum Posts by: Joseph Jacoway

Yes I remember that thread and that's why I thought to post here. The poster never did state what became of that situation although I know he was looking to evict that tenant.

Yes that's the issue in this situation. The property is direct frontage on the major four-lane road and there is NO fence at all. I was thinking that would be the only tie-in for the landlord being held responsible.

Let's say in this instance the landlord's property has frontage on a four-lane rd and the dog runs off of the property and into the four-lane, being struck by a vehicle and damaging the vehicle? Let's say a police report is written with the tenant/dog owner listed as the violator/responsible party.

If a tenant has a dog they keep on the property, and that dog escapes onto the road and causes damage to someones car, is the landlord also liable? Assume the tenant has no renters or other liability insurance.

I don't understand. I know nothing can "prevent" lawsuits, but having a liability waiver signed by the tenant, should mean a judge would not allow a damage claim for something like a slip and fall or stepping on a rake. Your skiing example contradicts your statement I think. Because the skier signs the waiver and if they get hurt in the normal course of skiing then the judge wont allow a damage claim, but if the ski lift malfunctions then they would probably get some sort of judgement. Same thing Im talking about with the property. I would think I'd be off the hook for a slip and fall on the property by the tenant but not if the microwave falls on them.

Thanks for the info Marc. As I understand it, the negligence comes into play if, let's say the over the stove microwave goes out, and instead of hiring someone to put one in, I swap it out with a new one and then a week later it falls down and hits the tenant. That would be negligence?

I just want to make sure I don't have a tenant that spills something and then slips and falls in the kitchen and decides to sue or steps on a rake they have in the garage and tries to sue.

And that price doesn't sound too bad for a $1MM policy.

I am looking at renting out my current primary residence, nice house in a nice neighborhood, and one of the issues on landlords minds is always the liability aspect.

I was wondering if anyone has inserted a liability waiver or hold harmless agreement into their rental contracts? Do tenants usually agree to these?

If not, can I obtain a general liability insurance policy or do they make them for landlords?

Ive been studying real estate and investing since I was 18, so now for a decade. Now is my time to finally DO! My goals for 2010 are, in order:

1. Obtain RE License
2. Form my REI LLC
3. Form my RE Team
4. Obtain Mortgage Brokers License (Just want to have)
5. Complete my first wholesale.
6. Complete my first flip
7. Complete 1 wholesale per month
8. Complete 2 flips
9. Make enough so the wife can quit her job :)

Someone should make a new sticky for 2010 :)

Thanks for confirming that Josh. So what type of mortgages can LLCs obtain? Just commercial mortgages?