Protect Yourself and Protect Your Home! Liability Risks for Homeowners in Marietta, GA

There are several liability risks for landlords in Marietta, GA, especially when you consider the litigious society we live in and the amount of education that tenants have when it comes to the law and their rights as renters. When you’re renting out a property, you need to be prepared for the risk that comes with it, otherwise you could find yourself stuck in a lawsuit.

Follow Fair Housing Laws

There are roommate restrictions in Cobb County and federal fair housing protections that prohibit you from discriminating against tenants who have five children. You need to know what kind of modifications you’re required to make to your home when a tenant with a disability is approved to move in. Many landlords are unsure about what fair housing covers, and it’s an area that you need to know well in order to protect yourself from the risk of discriminating against someone.

Providing a Safe and Secure Home

The home you provide to tenants must be free of safety hazards. Your decks need to be sturdy and handrails need to be installed. Eliminate any trip hazards inside or outside of your property, and look for things that may injure others. Perhaps the tree root sticking out of the front walk is something you have stepped over for years while you were living in the home, but when you have tenants moving into your property, you need to address and solve the problem. Security is also important. If former tenants or friends of yours have a copy of the keys or know the alarm codes, you could get into trouble if someone breaks in the home and steals from your current tenant.

Maintaining Insurance

Your insurance requirements change when you turn your property into a rental. Many landlords like to use umbrella policies, which provide extra coverage for affordable rates. You never want to expose yourself to liability by allowing your tenants to climb ladders to change light bulbs or clean out gutters.

Putting the Property into an LLC

Talk to your attorney about whether it’s a good idea to create an LLC for your rental property. This can provide extra protection against liability, specifically because your own personal assets are shielded if a tenant or a third party sues you. Only the assets of the LLC can be touched.

One of the best ways to avoid liability is by working with a professional property manager. If you have any questions, please contact Avalon Property Management.

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