There is plenty of landlord help available so there’s no sense worrying about lawsuits all the time. Life is too short.
Besides, there are certain simple things you can do now to avoid many lawsuits.
It isn’t rocket science. It’s more or less common sense.
For example, how would you react if your tenants’ children received a trampoline for Christmas?
Scrooge it out. Make them take it down.
Why? I know a Brentwood, TN family that got sued for $1500 because some little neighborhood kid fell and broke his arm on their trampoline. That happened while they weren’t home, incidentally. No matter that the child should not have even been on their property at the time.
Here’s another landlord tip:
Don’t put your tenants’ security deposits and advance rents in your personal bank accounts. That’s an absolute no-brainer. Landlords who do that really shouldn’t be in the business in the first place.
CPA and Florida landlord Michael Letcher has more landlord tips and advice on how to be a successful landlord.