PROPERTYSPARK ARTICLE

5 Personal Injury Law Tips That Could Affect Your Real Estate Business

Personal Injury Law and Your Real Estate Business

Know the Realities of Premises Liability

It cannot be over-emphasized that premises liability is the cornerstone of personal injury law that gets intertwined with real estate. Whether you rent or sell units, you’re responsible for maintaining a safe environment for renters or lessees under contract with you.

Just like when someone gets injured or wrongfully dies on your property, when they slipped on your icy walkway or fell because of your structure’s loose railing–you could be made liable.

But if it’s due to someone else’s negligence, like somebody placed some obstacles that caused them to slip and ultimately led to an untimely death, then it’s another matter and has to be proved in court.

That’s why regular inspections and prompt repairs are quite crucial to maintaining your property’s premises and minimizing these risks. You also need to consider investing in adequate liability insurance to protect your assets from these potential claims.


Make Safety Protocols Mandatory in Your Property Management

While having soft skills in the real estate business can propel your firm to the limelight, there are mighty things that need to be on your top priorities, like making safety protocols mandatory in all your managed properties.

These protocols may include the necessary and regular routine checks for hazards like faulty wiring, broken stairs and railings, or unsecured pools. It’s not just a passing inspection, though, but a thorough one that needs to be documented and recorded in detail, including the repairs conducted.

These records can be your real evidence to prove your efforts to comply with the implied warranty of habitability, especially if you contract as the lessor for residential properties. Your recorded inspection and repairs will prove that you have exerted all efforts necessary to maintain your property in a condition that’s safe, livable, and compliant with housing requirements, like:

• The basic living standards
• Its repairs and maintenance are done in a timely manner
• Ensures there’s no danger to health and safety in the rented premises

Make Efforts to Comply with Building Codes

Some states may not have the same detailed building code provisions as others, but one thing is uniform though; non-compliance to these codes is a common cause of personal injury claims in real estate. So, whether you’re developing new properties or renovating existing ones, knowing and adhering to local, state, and federal building codes is non-negotiable.

Your inspection may include everything from proper electrical layouts and installations to making sure there are reliable fire escapes in your structures. Since non-compliance leads to hefty fines and risks of injury claims, it’s better to keep up with your observance and obedience to these ordinances.


Train Your Staff on Personal Injury Awareness

You and your employees, especially those working directly with your managed properties, need to be aware of personal injury risks.

So, training your staff to recognize potential hazards and address them promptly can be an ounce of prevention so accidents won’t happen.

Also, educating your team on some legal implications of personal injury cases and their possible involvement can help make your team handle each situation with the seriousness they need.


Include Personal Injury Clauses or Provisions in Your Contract

When it comes to drafting your lease contracts, construction agreements, or any other contract related to your real estate business, it’s wiser to include clauses that can address personal injury. While it may need not be a waiver of liability-like provision, it has to outline the responsibilities of each party in maintaining safety and clarify liability in case of an injury.

It’s quite beneficial if you have clear, well-defined contracts that can help you avoid disputes and shield your business in the event of an accident or some unforeseen event.