Author Topic: Tenants and Landlords - Do you have a subrogation clause?  (Read 723 times)

0 Members and 1 Guest are viewing this topic.

Offline Burn That Belly

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 62
  • -Received: 194
  • Posts: 1801
Tenants and Landlords - Do you have a subrogation clause?
« on: August 03, 2017, 05:16:54 PM »
I'm currently ditching my property manager and going to go rogue.

I noticed that some lease contracts do not include the Subrogation Clause. Why is that?

Tenants, are you being asked to buy your own liability insurance for property damage or fire, flood, etc? (Not property loss insurance)

For Landlords, are you asking Tenants to buy liability insurance? And Landlords, are you including the waiver of Subrogation so that neither the party's insurance can sue each other to reclaim losses?  But what if the Tenant's damage exceeds the cost his policy? It sounds like the Landlord would have to cover the difference.
Member of the 'A' Team. Team Appreciation.

Offline USCTrojanCPA

  • Realtor aka Realty King
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 1851
  • -Received: 1445
  • Posts: 7539
  • Gender: Male
Re: Tenants and Landlords - Do you have a subrogation clause?
« Reply #1 on: August 03, 2017, 08:37:03 PM »
I'd said it once and I'll say it again....if you are local a property manager is a waste of money.  I use the CAR Lease Agreement for my properties and I do require that tenant's obtain renter's insurance (especially if they have a pet).  It is the Landlord's responsibility to carry liability insurance, make sure to get a landlord home insurance policy. 
Martin Mania
AgencyOne
CA BRE License # 01799007
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline Burn That Belly

  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 62
  • -Received: 194
  • Posts: 1801
Re: Tenants and Landlords - Do you have a subrogation clause?
« Reply #2 on: August 03, 2017, 08:48:50 PM »
Okay, it looks like Landlords should not be including a waiver of subrogation.
« Last Edit: August 03, 2017, 11:43:55 PM by Burn That Belly »
Member of the 'A' Team. Team Appreciation.

Offline irvinehomeowner

  • The Unicorn Hunter
  • Certified Irvine Addict
  • ****
  • Thanks
  • -Given: 1907
  • -Received: 3401
  • Posts: 18950
  • 3CWG
Re: Tenants and Landlords - Do you have a subrogation clause?
« Reply #3 on: August 04, 2017, 07:19:52 AM »
So YF moved into his new place and is renting out his old one?
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
www.loansbyjw.com

 

Talk Irvine Links

[Recent Posts]
[FAQ / Rules]

Site Supporters


Related Links

Recent Posts