Pushes the cost of damage protection insurance onto the hosts and guests.

This is obviously a gross injustice, but what can a landlord do to protect themselves from a big potential problem if for some reason a tenant uses a ridiculous amount of water and then does not pay the water bill?

I'll provide an example.More asset protection: You are the owner of an LLC in Wyoming (or maybe Nevada) that owns other LLCs for properties.

Operating through an LLC can certainly provide some protection, but many mortgage companies include a "due on sale" clause in their contracts, which means transferring the property could technically trigger the need to pay off the mortgage. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

How do I protect my assets and potential liabilities?

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Protect your personal information and don't share it.

I want to transfer it to an LLC for asset protection reasons. 

They will go after everyone involved...Does the Enuine inherent risk law protect us even though just random person get injured by our tenant's horse in our property?