With risk comes reward, however unnecessary risk brings liability that can cost you everything. One of the biggest risks in rental property is in regards to negligence. An owner or landlord of rental property can be negligent if they should have been aware of an issue and failed to address and resolve the problem. This can take many forms but often we see it in regards to safety issues at the rental property. For instance, a loose handrail that fails and causes a tenant to slip and fall can result in a claim from the tenant against the landlord for damages. Negligence brings with it a host of problems that all end up equating to higher risk and ultimately lower returns on your investment real estate. Not addressing safety and security issues at a property will surely increase your liability which will in turn lead to dissatisfied tenants, potentially poor curb appeal, inadequate services, possibly increase your insurance premiums and ultimately higher operating costs. It can be expensive to do the proper upkeep on a rental property, but minimizing risk is the proven long-term path to success with rental properties.
Centurion handles the property management of hundreds of rental property throughout the Mid-Willamette Valley. We pride ourselves on taking a proactive approach to property management with an eye toward maximizing profits, reducing expenses and minimizing liability. Call us today to find out what we can do for you!!! (503) 588-0940.