Posted by Ben (NJ) on September 30, 2003 at 12:42:22:
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How do I secure Slip & Fall Protection - Posted by Rental Man
Posted by Rental Man on September 30, 2003 at 08:08:07:
Hello all,
If I am about to aquire a rental property, how or what must I do to protect myself from lawsuits such as slip & fall or similiar cases?
Thanks
Re: How do I secure Slip & Fall Protection - Posted by Ben (NJ)
Posted by Ben (NJ) on September 30, 2003 at 08:44:59:
The property should not be in your personal name first of all but in a single-asset LLC. Also, a portion of your property insurance will be for liability coverage. Request a high policy limit (ie one million dollars).
Re: How do I secure Slip & Fall Protection - Posted by Rental Man
Posted by Rental Man on September 30, 2003 at 09:23:16:
Thanks, I understand that the property should not be in my name, but how should I go about that? What are the steps to take?
Thanks