Liability with rental property | FerrariChat

Liability with rental property

Discussion in 'Other Off Topic Forum' started by spike308, Aug 6, 2007.

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  1. spike308

    spike308 F1 Rookie
    Owner Silver Subscribed

    Nov 8, 2003
    4,756
    Austin TX!
    Full Name:
    Mike Z
    Just curious... if I rent my house to a couple with small kids, and there is a swingset in the back yard. Kid falls off, hurts himself... am I on the hook?
    Swingset is in good condition.
    Also, renter is a friggin' lawyer!

    your thoughts are appreciated!
     
  2. SrfCity

    SrfCity F1 World Champ

    Yea, probably at least your insurance would be. I'd take a hard look renting to an attorney. If things go sideways for whatever reason he'll have you by the short one's and it will cost you.(I can almost guarantee that if there were any problems it would turn into a legal battle) It would take him about 5 seconds to figure your net worth and he could take it from there. Too risky IMO. Add him to the short list ;)
     
  3. spike308

    spike308 F1 Rookie
    Owner Silver Subscribed

    Nov 8, 2003
    4,756
    Austin TX!
    Full Name:
    Mike Z
    Thanks...
    the one thing I got going is that a good friend of mine is a partner in a big firm in Chicago, and he loves being an ******. He'd do a lot of stuff for me for free. This guy who wants to rent is new to the area, don't think he has practiced for long.

    Plus, property is in "tenancy of the entirety" or whatever it is called. Almost all assets are in a trust, set up several years ago. Not much he could get.
     
  4. HUTCH91TR

    HUTCH91TR F1 Rookie

    Nov 7, 2003
    2,894
    Charlotte, NC
    Full Name:
    Hutch
    Put a specific clause in the lease stating that the "swingset is to be used at own risk" or something specific along those lines. Don't be vague, or unclear that the swingset is strictly use at your own risk.

    Have this lawyer initial that clause specifically. That will show that he read, knew and understood fully that the swingset is strictly use at your own risk. Not too many ways he could come after you then, and win. Sure he could come after you, and it would cost you some $$$ to defend yourself. But it's unlikely he would win. You could then countersue for damages :) , and win!!
     
  5. David_S

    David_S F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    11,260
    Mountains of WNC...
    Full Name:
    David S.
    Pretty sad that we've been reduced to having to worry about such things... Anyone have a solution?
     
  6. TrentS

    TrentS Formula Junior

    Nov 22, 2005
    789
    South Florida
    Yes, very simple solution... GET RID OF THE SWINGSET

    No matter what clause you put in the lease having it there is a liability and not worth the risk, just get rid of it. If they want a swingset then let them go buy their own (from someone else, not you).
     
  7. TheBigEasy

    TheBigEasy F1 World Champ
    Consultant

    Jun 21, 2005
    18,874
    California
    Full Name:
    Ethan Hunt
    Was it your swingset there before they moved in or did the renters buy and install it themselves?
     
  8. marcello2

    marcello2 Karting
    BANNED

    Jul 6, 2007
    135
    HK
    Full Name:
    marcello pipes
    put them on your short list.paper basket list
     
  9. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
    Lifetime Rossa Owner

    Dec 10, 2003
    43,865
    26.806311,-81.755805
    Full Name:
    Dave M.
    Sell the swing set to the renter if he wants it, otherwise toss it. Get a bill of sale/receipt. Put a waiver of liability on the receipt too, just for luck. Have your chicago lawyer write it up.

    Poof, now you don't own the swing set anymore.
     
  10. bannedleader

    bannedleader Karting
    BANNED

    Mar 6, 2007
    171
    ............looking for ANOTHER banning, but, he`s a what??? Must not be much of one if he has to rent
     

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