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If you are involved in the following activities, it is essential to have the right coverage and insurance policies:
Lawsuits related to this industry are common, and failure to have the proper protection in place can expose your business to unnecessary risk. Your clients also trust you to carry the correct insurance to protect their most significant assets. The right policy can serve as an incentive to choose you as their property manager and will provide a tool to demonstrate your professionalism and care when acquiring new business.
Wrongful Eviction: As a property manager responsible for evicting tenants when and where necessary, you have recently evicted a tenant. In evicting the tenant, you did not follow the proper eviction process. As a result, the evicted tenant is now bringing forward a claim against you.
Tenant Discrimination: A potential tenant claims you did not rent a property to them based on gender, race, or religion.
Resident Injury: A tenant or visitor falls and injures themselves on your property.
Property managers shoulder significant risks on behalf of their clients. Protect your business and your clients with a property management insurance policy. Even if you operate entirely professionally, you can still be sued for wrongful eviction or tenant discrimination. Ensure your business and clients are properly protected. Talk to us today to learn more about property management insurance.