What is your tolerance for risk?

Even though parents are ultimately responsible for keeping their children safe in any home or apartment it's important for a rental property to be safe for all tenants. So how far do we go and what can we do to minimize our liability as landlords? As a landlord we have to accept some responsibility for the condition of the property but what about the amenities? For example, many of you may have recently read about the 1 year old boy in NE Portland who drowned in his parent's decorative pond. At TMG we manage single family homes in WA & OR that have beautiful decorative ponds & water features. When we sign on a new home to rent and there is a pond or water feature present, we recommend to the homeowner that they fill in the pond. Some owners are appreciative of the recommendation and some are appalled we would even suggest it.

Everyone has their own tolerance for risk and while parents are ultimately responsible for the safety of their children, we all know that lawsuits, frivolous or otherwise, are prevalent in our personal and professional lives. There are many examples of potential liability for both children & adults, some common, some not; hot tubs, pools, garage door openers, window screens without child safety latches (this is very common), iron fences with narrow spacing, decorative but sharp finials & of course playground equipment.