When a tenant previews a property and sees a security system it is reasonable that they expect it to be up and running when they move in, and that it is included in the rent. You need to dispel that expectation and protect yourself from the liabilities of what happens if it fails. This is a CYA document letting the tenant know that it is their responsibility to deal with the monitoring system and the cost belongs to them. You are not making any representations as to its reliability, its functionality or its cost and they agree to hold you harmless if the system does not function properly.
The longer you’re in property management the more you realize that it’s sticky, often hostile, and sometimes even litigious. Over 35 years we’ve been burned many times by tenants and after the second or third time (we’re slow learners), we go back to the attorney and have them draft a document that prevents it from ever happening again. Blaming the property manager has reached an all-time high and isn’t going away anytime soon. So, understanding this reality, smart managers need to spend extra time, money and effort building and crafting documents designed to protect themselves, even from those they are trying to serve. We’ve pulled these documents from our archives and have listed them here for your review and individual download (or in packages by topic). We’ve laid them out in the Property Management Life Cycle categories to give the discussion some order.
Protecting yourself from tenants is what these documents are all about.
Download (PDF, 417KB)
The Property Management Lifecycle by Crown Investor Institute LLC