A report at Realtor Magazine dictates that 73% of property management companies were not liable for a lawsuit placed against them. That is a rather solid majority. What does this information provided? Is it highlighting the fact that property management companies are not often at fault for situations placed against them? Or is it something a little more interesting? Does it mean that property management companies can afford a great attorney or that the clients who are suing them often have the cards stacked against them?
Property Law Services St. Louis MO often works with clients who are building a case against the property management company. Landlords who run multiple properties do not have the time and patience to deal with the tenants directly. Nor should they have to. The whole point of property management is to allocate resources to covering tenants so the landlords can grow their assets and work in other areas. But, that does leave a lot of responsibility to the property management entity. That opens the door for a lot of potential lawsuits and disagreements.
Property management companies have also taken proper action against potential lawsuits. They have a lot of stipulations built into the contract that protect them from responsibility. On one hand, this is a great thing for the property management companies who are turning away roughly 73% of the lawsuits coming against them. Unfortunately, this is not a good thing for landlords who are seeking Property Law Services St. Louis MO against a property management company that is bending the law. Many of the stipulations may be unethical or, at the very least, a bit unfair. Landlords should absolutely detail the agreement they are signing the property management company. That may avoid a lot of potential problems that can occur following a major disagreement.
Some of those common lawsuits involve an injury to the current tenant. A property management company has a responsibility to review the condition of the property, and that includes the technical features (faulty wiring) as once the external features (the roof). But, who was responsible and to what degree? That is the issue that complicates Property Law Services St. Louis MO. Visit Van Dillen & Flood P.C. for more on this matter.