How Can Property Owners Protect Themselves Against Property Liability?

Real estate investment and management are becoming more and more popular in today’s society. In fact, the property management industry increased 4.4% between 2012 and 2017 alone. So if you’re a property owner, it’s important to keep your building in tip-top shape — otherwise, you could face someone getting hurt on your property and filing a liability claim. So let’s take a look at a few simple things property owners can do to protect themselves against property liability.

Keep Dangerous Areas in Mind

When you own property, you should be aware of certain areas within the building that may pose a higher risk of injury than others. For example, walkways, stairways, and swimming pools all could be accident-prone areas. So when thinking about the dangerous areas on your property, make sure you pay special attention to these areas. Start by assessing the areas — what safety measures do you already have in place and what else can you do to make the area even safer? Additionally, it’s important to check on these areas often and ensure any repairs or maintenance that may be needed is done quickly and efficiently. Taking these simple steps to pay closer attention to dangerous areas can do a lot to reduce the risk of potential liability.

Keep Everything Organized and Clean

One of the most important tasks as a property owner is ensuring the building is kept in good shape. This means making repairs when needed, scheduling regular maintenance, and keeping everything clean and organized. It’s important to keep things like cleaning supplies, boxes, and papers all put away in their proper place. Having loose items around the building can pose a serious risk of injury. This can help you stay organized too, especially with the Gartner Group showing 15% of paper documents are misplaced. So make sure items are put away where they should be to avoid them being in the way.

Have a Procedure for Accidents

Unfortunately, not all accidents are preventable. So it’s important to have a procedure in place if an accident does occur. This way, you can ensure accidents are handled properly and that all of the necessary information regarding the accident is obtained. While about 74% of states require employers to offer employees workers’ compensation coverage, when people get hurt outside of work they can file a personal injury claim for compensation. So you need to take steps to ensure the accident is reported, medical attention is available if needed, and you should contact your liability lawyer sooner rather than later. By taking these steps to ensure accidents are handled appropriately can be beneficial for everyone involved.

Owning and managing property can be extremely beneficial, but it’s also a huge responsibility. It’s important to keep the building clean, organized, and hazard-free to help reduce the risk of accidents occurring. So to protect everyone on the property, including yourself from liability claims, keep these simple tips in mind.

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