With rental property, your assured may have a written contract with a management company. The contract will spell out the management company’s responsibility. The contract could very well have a clause in which the management company obligates itself to screen the tenants, rent to only insured tenants, regularly inspect the property, and otherwise take on most of the obligations of an owner.
The property management firm may have been added as an additional assured under the landlord’s policy, so be sure to examine the landlord’s contract with the property management company.
In addition, the assured may have had discussions with the management firm, and there may be correspondence between them.
Thus, when a tenant causes damage, either by negligence or by vandalizing the property, the management company may be a target for your subrogation efforts. (21284).
Finally, the management will have records on what repairs were made, and what new products were installed, and who installed them, on the assured's property. There may be subro targets among them!
The property management firm may have been added as an additional assured under the landlord’s policy, so be sure to examine the landlord’s contract with the property management company.
In addition, the assured may have had discussions with the management firm, and there may be correspondence between them.
Thus, when a tenant causes damage, either by negligence or by vandalizing the property, the management company may be a target for your subrogation efforts. (21284).
Finally, the management will have records on what repairs were made, and what new products were installed, and who installed them, on the assured's property. There may be subro targets among them!