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Updated over 9 years ago on . Most recent reply
Do You Landlords Buy E&O Insurance??
Dear BP Family,
I'm going to inherit a tenant and become a landlord 1 month from today (if all goes well)! I am forming a property management company to manage not only that tenant's residence, but also other people's rental property. I want to make it a full-time gig. I'm considering buying professional liability insurance, also known as Errors & Omissions (E&O) insurance, for the business.
Questions for the forum:::
(1) What are the common types of insurance property managers carry?
(2) Do you carry some form of insurance as a property manager?
(3) Have you ever had a claim against you as a property manager?
(4) How did/didn't your insurance help you in the settlement of this claim?
Thanks in advance!
Most Popular Reply
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
Hi @Edward Stephens. Welcome (hopefully) to the world of landlording!
As a private LL (with his own PM co for my own stuff) I don't carry E&O.
If you're not getting many responses, you may want to re-post in the Realtor Forums. 'Landlord' here means more of the mom and pop rental owners. Cheers!