How often do landlords actually lose lawsuits?

[Reese W.]

I'm under the impression that the notion you must get an LLC otherwise you will get personally sued and lose all your belongings is a bit of a wives tale, and Brandon has done some great talks about it (https://www.youtube.com/watch?v=9Ol2W8SE8b8). I personally have decent liability insurance on my properties ($500k) and my tenants are low-income with a property managing LLC between them and me, so I feel comfortable.  However, what do the hard facts say? Have you or someone you know ever lost a landlord lawsuit? All the guidance out there tells tenants that it's difficult and they must show the damages were due to a landlord or property manager WILLINGLY failing to safely maintain the property or carry out the rental agreement.  My research shows that the most common suits by far are over security deposits.  I'm ok with losing out on that $1000 if they really want to fight it in court.

[Andrew Syrios]

It's not very often, especially not where you lose everything. That's kind of oversold. That being said, an LLC is by no means going to save you. Doing business right and maintaining good insurance on your properties is the best protection you can have.