Property Management - Agent insurance : ezLandlordForms

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Property Management - Agent insurance

John W

started a topic over 4 years ago

My In-laws recently purchased a home in Texas and decided to lease it out for a year prior to living in it. Since they currently live in California, and the home is in close proximity to my home. I told them that I would manage their property for them during the year. I found the tenant, ran all necessary checks - (credit, criminal, eviction and rental app). Created a lease agreement between my In-laws (The Owner), myself (The Agent) and tenant. In addition, I created a property management contract between my In-laws and myself. I asked my In-laws to have my name added to their liability insurance to protect me in the event if anything was to happen. They stated that they shouldn't have to add me to their insurance. Is this something I should be worried about or am I supposed to obtain my own insurance to cover me from any type of unforeseen law suites? Or since I am acting as the agent only, I would not assume any liability regarding the property anyway?