Landlord Quick Tip
Tip #179: Friend Me!
Give your guest policy a one-two punch:
First, make sure you have a provision in your lease that makes it clear the tenant — not the landlord — is liable for the actions of unruly guests. This provision is often placed in the termination clause, allowing the landlord to evict a tenant who befriends the wrong people. The guest must be required to follow all of the same house rules that tenants must follow.
Next, consider asking your tenants to carry renters insurance. A special liability rider can be purchased which may pay if a tenant’s actions cause a guest’s injury. With such a policy in place, the landlord becomes an unlikely target for a lawsuit.
See last weeks Landlord Quick Tip.
American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.
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