Landlord Association Forums: For Landlord Professionals

BigFoot wrote:

AverageJoe wrote: What if a tenant starts a fire using the stove. The house burns down. The tenant's lawyer says the stove was 20 years old (or older) and you get sued. What do you do?

the stove in my home is probably 30 plus years old..............and it works just as well as a new stove. Its built like a tank, heavy gauge metal and wiring and much better quality than today's stoves.

From my 20 plus years of attending fires, the problem is almost ALWAYS user error, NOT the stove malfunctioning.

So for my duplex, I would get two policies?

How about this as a twist on this type of business.

It could be a company that specializes in getting bad debts paid by tenants, like a collecting agency for outstanding rent payments (and other losses).

I think most landlords just "eat the losses". I'd love to have a company take my bad tenant file and go after the tenant. I think there would be plenty of landlord's that would just be happy seeing the tenant get what they deserve and know that they didn't get away with it.

Then, everyone would be happy (accept the deadbeat tenant).

This might be a long shot as it can be hard to collect from tenants, though.

Just a thought

It's funny that you mention this DowntownToronto. We had a woman who is a landlord herself that wants to partner with us to do exactly what you're proposing. She tells us that she's quite skilled at going after tenants.