Residential Property Management/Question


Good day
I got the following questions with reference to risk management and renting out of my condo. Before renting out the condo I am trying to brainstorm all of the risk involved and find ways to manage it.
Lets says that I am renting out my condo and I dont have a property manager. Instead I plan to hire a handyman to repair appliances etc.
In the lease agreement I specified that I am responsible for appliances / electrical system of the home.
In the event that I hire a handyman to repair my appliances / electrical system in my home and he does something wrong and the appliance malfunction. Lets say it causes a fire and then as a landlord I am responsible, yet it was not my fault. Or lets say that the tenant overloads the electrical system in the condo that causes fire and then I am deemed responsible for the fire even though it was not my fault.
In these instances what can I do as a landlord to protect myself from liability arising out of 1. mistakes / negligence by handyman on appliances / electrical system and 2. negligence by the tenant ie. overloading electrical circuits etc.
What are the different ways to mitigate this risks?

S. Mahabir,

The risks you bring up may be mitigated through contracts and insurance. I suggest you have an attorney specializing in landlord-tenant matters draft your lease to include language limiting your liability. In addition, I suggest you engage a good insurance broker to write appropriate coverage that covers you for losses that may occur in the rental of your condominium unit.

In both instances, be sure to take into consideration any rules and regulations promulgated by the condominium or homeowners association.

Lastly, you may wish to consider hiring a professional property manager to handle these issues for you. If they are experienced and accredited, they will have the appropriate knowledge so you do not have to "brainstorm" about the myriad risks involved in becoming a landlord.

All my best,


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K. David Meit, CPM


Real estate investment, operations, renovation, marketing, and administration. Specializing in urban multifamily, DC rent control, property repositioning, change management and building high performance operating teams. For more information, please visit


I have over twenty-five years experience managing all classes of multifamily property in New York City, Washington, DC and the Maryland and Virginia suburbs. I am President & CEO of Oculus Realty, LLC, a licensed real estate broker in Virginia, Maryland and the District of Columbia. Oculus is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM). I have earned the CPM and ARM accreditation through IREM and GRI designation though National Association of Realtors (NAR). My career includes successful management and executive positions at Bozzuto Management, Forest City Residential, DARO Realty and Vornado Realty Trust.

Institute of Real Estate Management Ethics and Discipline hearing Committee, Chair Region 3 Education Committee, Chair West Central Maryland Chapter 92, President (2012) Apartment and Office Building Association Advisory Board Member National Apartment Association Property Management Associations President, 2004 National Association of REALTORS


Boston University, BA New York University, Schack Institute of Real Estate, Property Operations Institute of Real Estate Management, CPM designation

Awards and Honors
Institute of Real Estate Management AMO of the Year Award 2015 CPM of the Year Award 2012 Past President's Award 2012 Property Management Association PMA Presidentís Award, 2003, 2005 PMA Vision Award, 2004 Property Manager of the Year, 1998 Apartment & Office Building Association Outstanding Leadership Award, 2006, 2008, 2011 AACE Award Washington, DC Service Team, Sedgwick Gardens, 2004 AACE Award, Virginia Garden New Upscale, Regentís Park, 1998

Past/Present Clients
My clients include high net worth individuals and family offices looking for long term income and appreciation from investment real estate.

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