Property managers have been warned not to sidestep the question of landlord insurance with their clients or risk exposing their own business to legal claims.
Failing to ensure our clients have liability cover in place can not only leave the client exposed but also our company.
These days, there’s a real chance of a lawsuit if something goes wrong and property managers can be exposed in two ways;
In the absence of landlord insurance, lawyers can recommend suing a property manager or agency either instead of, or in addition to, the property owner. There is also potential for the landlord to sue property managers for failing to inform them of the protection available and the need for insurance – or to claim PMs are indirectly responsible for the problem.
For this reason it is our duty of care to make you aware that protection is available. Be sure to understand exactly what your policy covers and compare policies based on product not price.
If you would like more information on the options available please contact service@homepm.com.au
