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We have expanded our Property Managers Professional Liability product into a package that addresses the main areas of liability for commercial and residential property managers.
Please note we cannot offer coverage to the following:
PROFESSIONAL LIABILITY CLAIMS: A property manager was working exclusively with a new luxury 250-unit apartment complex to rent the apartments as they became available. Six months after the manager began work on this project, only a small percentage of the units were occupied. There were many factors causing this including the closing of a large area employer, heavy construction in the area making travel to this complex difficult and the construction of other new temporary housing developments in the area. The owner of the complex was upset that there were so many units unoccupied and blamed the property manager. He sued the property manager for failure to rent the properties in a timely manner and lost income.
ABC Property Management Company was competing for the lease of a large Company that had moved into the area. During the negotiation process, the Company mentioned that they had also been approached by 123 Property Management, another firm in the area and was also looking at their space. The property manager at ABC stated that they had heard negative reviews about how the other property manager maintained their properties. The Company rented space from ABC Property Management. 123 Property Management followed up with the company and heard what ABC Property Management said about them. They sued for slander as a result.
Paul Resident purchased a unit in Happy Valley Homeowners Association. He applied for additional parking permits at the complex, but was denied. Paul and his family often received parking citations issued by the property manager. Paul is Hispanic and spoke to other residents of Hispanic nationality, who also felt that they were denied additional parking permits and given parking citations when non-minorities offenses were ignored. Paul sued for discrimination. (Covered only if Coverage Part B, Tenant Discrimination, is purchased).
A manager for an apartment complex was called when a pipe broke and there was water leaking into one of the units. She called the maintenance worker she employed and asked him to come and fix the problem. The maintenance worker showed up five hours after the call, and the property manager fired him as he had a habit of responding late to emergency calls. The maintenance worker sued the property manager for wrongful termination stating the true reason he was fired was because he had spurned advances the property manager had made towards him. (Covered only if Coverage Part C, Employment Practices Liability was purchased).
A property manager rented an apartment to a student in a college town. The tenant disturbed the peace at the complex, often throwing loud parties that ran late into the night. After numerous warnings the property manager took steps to evict the tenant, resulting in removing their property from the premises. The student sued for wrongful eviction. (Covered only on management of Residential Properties).
PERSONALLY OWNED PROPERTY MANAGEMENT: A minority couple apply to rent one of the properties you own. Due to their poor credit history you decline their application. Shortly afterward you rent the home to a non- minority couple with excellent credit. The first couple who is still in search of a place to rent; see the home has been rented so quickly and sue you for discrimination. They claim you declined their application due to their ethnicity and not their credit history. (discrimination claim)
Your leasing company ABC leasing is losing leases to XYZ Leasing, another leasing company. While trying to close a leasing deal with a local business, you mention to the potential tenant that the owner of XYZ Leasing has been known to be an unscrupulous business man and often voided contracts. The potential tenant then relays what you said about XYZ Leasing and they turn around and sue you for libel/slander.
A property owner rented one of his homes to a young man in a residential neighborhood. The young man came with excellent references. However, he immediately began to disturb the peace in this neighborhood, often throwing loud parties that ran late into the night. After numerous warnings the property owner took steps to evict the tenant, resulting in removing their property from the premises. The young man sued for wrongful eviction.
PREMISES ONLY PACKAGE CLAIMS: Jack, the owner of Jack’s Slacks has missed two month’s rent payment due to family issues. The property manager agreed to give Jack three month’s grace period before taking legal action. Jack just received a final notice of payment in the mail from the property manager and storms into the property manager’s office to discuss. Jack trips over the cord to the fan and falls to the ground. Jack breaks his arm and sprains his ankle. Jack sues for damages.
Bruce, the owner of the Management Man, takes the afternoon to work on some paperwork back at the office. As he is working on the computer, a thunderstorm rolls through causing a power surge. Bruce sees some sparks shooting out of the computer resulting in a fire. As a result, of the fire the computer’s hard-drive is destroyed. Bruce needs a new hard drive to get back up and running.
Please note –
You must be an appointed Peachtree Special Risk Brokers, LLC retailer to use these programs. Quotes obtained via these programs will only be bound IF you are previously appointed producer with a currently executed Producer Agreement with any Peachtree office. | Also, you must be properly licensed with the State in which the risk is located, with a copy of your State license on file with us. | Prior to Binding, you must confirm with your local Peachtree office to determine any and all applicable taxes and fees. | No coverage is bound until confirmed in writing from a Peachtree representative. | Please contact a Peachtree representative if needed for additional pricing considerations on any quote received using these programs or if your submission has been declined. – Thank you! –