What is your biggest fear as a Landlord?

[Nathan Gesner]

Are you afraid Tenants will trash your rental?

Tenant won't pay rent?

The economy will turn and your rentals will sit vacant?

You've over-extended yourself financially and the next problem will wipe you out?

What keeps you up at night? More importantly, what are you doing right now to mitigate that risk and prevent it from sinking the ship?

[Nathan Gesner]

Originally posted by @Karl B.:

Whether warranted or not, probably getting sued.

I manage 360 rentals. Been in the business 11 years. Never been sued once.

I've posted several times over the years, asking BP members if they've ever personally been sued. Hundreds of responses, only a few that were actually sued. Most of them won, a few lost very little.

The risk of being sued and losing is dramatically exaggerated. The best way to avoid being sued? Know and obey the law, treat your tenants honestly and fairly, document everything. Even in a place like California or New York, the risk is pretty low for good Landlords that run an honest business and document everything.