Aptsix

The rental business is filled with finger pointing, and worse, lawsuits. The majority of most lawsuits are settled out of court, and society tends to follow suit as well. When something happens, people would rather pull out their wallets, and con artists love to see the wallets open for good reason..

Imagine a small fender bender, a slip and fall on your property, or even waiving the back rent if a renter moves out quietly. Most people consider not turning in a minor dent on a vehicle, and opt to pay for the repair out of pocket.

The same goes for the slip and fall victim, most people are glad to settle as long as the property owner pays the doctor’s bills, but did you know that even though you believe the score is settled, legally it’s not.

If you or someone you know has a tendency to settle issues this way, think twice before you do because these events, although seemingly settled, can become lawsuits.

Victims can sue for pain and suffering resulted from an injury in the same way that a renter can sue claiming damage to their property due to negligence of a property owner or manager.

How would you feel giving a check to a non-paying renter, behind on his/her rent, someone who chose to vacate quietly to avoid payment and someone who has filed suit against you for property damage?

It’s very real but one thing can protect you and it’s called a written release of liability or also called a general release.

Generally speaking a release that is written correctly can save you some headaches because when someone signs a release, you are released from liability as of the date signed.

If your neighbor falls in your yard, you both sign the release, you pay his/her medical bills, and six months later your neighbor is not getting along with you anymore. There’s no way for him/her to sue you for anything that happened prior to the date of the release, but he/she can sue you for anything that happened after the date.

If you need a written release of liability, you can write one yourself but it’s best to play it safe. Ask an experienced attorney to look over the document for approval or pay a few bucks to have an attorney to draw a release up for you. Protect yourself from potential problems, rely on the law to help, but you have to initiate it.