We are talking about insurance for your Las Vegas rental property, and today we have Curt Bulloch from Bulloch Insurance Brokers joining us. They help property managers ensure they have the right insurance to successfully run their businesses. When a property manager or an owner hires a vendor to work on a Las Vegas rental property, there are a few things that need to happen before that vendor gets to work.
Property Management Las Vegas: General Liability
A vendor is anyone who provides a service to your property. This could be anyone, from a painter to a house cleaner to a carpenter to a carpet cleaner to a window washer. So, if those people are coming onto a landlord’s property, you want to make sure they have general liability insurance. This is going to ensure that those vendors will be covered for any problems or damage that might occur. It protects you and your own insurance policy against claims for damage or lawsuits.
Property Management Las Vegas: Additional Insured
With that general liability insurance, you want to make sure that the vendor also names you, the Las Vegas property manager, as an additional insured. You are going to get a certificate from them that names you as an additional insured while the vendor is completing work at the property for which you are responsible. Then, if there is an accident at the property or any damage is caused by the vendor, you will be protected and your client will be protected.
These are two major things to consider before you hire a vendor and allow them to do work at your rental home. If you have any questions about what types of insurance your vendors should have, you’ll want to talk to Curt about the requirements your property manager should have in place. If you have any questions about Las Vegas property management, please contact us at Blackbird Realty.