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Updated 26 days ago, 10/30/2024
Who Is Responsible For Damage Caused By Squatters
So I have a rental property that I am paying a management company to maintain and rent out. It is currently vacant but on the market to be rented out. The property management company just informed me they had to pull the property off the market because they found a squatter had broken into the home and was living there. I do not know what the extent of any damages caused by the squatter are yet, but, my question would be, who should be responsible for paying for any damages caused by this said squatter? Is it to be expected that since I am hiring a property manager to look over my property, they should have kept a better watch on the place and should be responsible for fixing the damages, or is that just par for the course and I as the investor will end up having to pay for any damages done? I have skimmed over the management agreement and it doesn't really say anything specific in regards to who is financially responsible in the case of a squatter breaking in.