Adequate protection as landlord

[Julie L.]

Good Afternoon All!

I am purchasing a property that was built in 2022 and it is a SFR. I am out of state so I have a reputable PM handling the tenant but I want to make sure I am adequately protected in terms of liability and such. I was thinking of speaking with a LL attorney from the state to see what advice they may have for me.

Is there anything that you incorporate into your lease whether that it is provisions for insurance/liability shifting? I basically do not want to be on the hook as an out of possession landlord for the something the tenant should be responsible for. Example, the tenant has a guest over and there is a leak that I was not made aware of. The guest slips on the water and falls breaking his/her arm.

Thank you in advance and I apologize if I am asking a silly question. 

[Kyle Mccaw]

@Julie L.  I don't know what state your property is in but I'm sure insurance is similar nationwide. I'm sure you already have a landlord policy for your rental property. It would include liability coverage. Personally I think everyone should have an umbrella policy also. My insurance guy is @Cameron Moore. He is on BP from time to time.