Q: Section 13 of lease agreement: "Liability of Landlord/Agent." Prospective tenant has crossed out two lines. Bad for me?
My prospective tenant has crossed out these two lines in Sec. 13 of standard lease agreement (VR Form 200, revised 7/18) : "Landlord and Agent shall not be liable for negligence or tort" and "Tenant hereby release landlord and agent from any and all liability and agrees to indemnify landlord and agent for such losses, with respect to tenant, and all occupants and guests or invitees of tenant."
Im more upset with first sentence then second. I am a good landlord and keep the house in good condition, make repairs quickly. Am I being overly exposed if I agree to these terms? For what it is worth, tenant is a lawyer.
A: By agreeing to those strike outs, the landlord will be exposed to additional liability. You should not agree to those strike outs.
Ross Cameron Hart and Bruce Alexander Minnick agree with this answer
1 user found this answer helpful
A:
In my opinion you are correct to be concerned. As Mr. Maloof said, it can increase your exposure. Among other things, make sure your insurance covers tenant claims for injury or loss on your properties.
By the way, there is no 'Standard Lease Agreement' in Virginia - there are only templates that are put together by internet vendors, real estate agent associations, lawyers, etc. ONE SIZE DOES NOT FIT ALL. You don't indicate how many properties you rent out as an investment, but if it's more than 2 or 3, spend the money and sit down with a good landlord tenant lawyer who has their own 'in house' form, and get it customized to your situation.
Bruce Alexander Minnick agrees with this answer
1 user found this answer helpful
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