Tuesday, December 07, 2010
WiFi and Tenants
A friend of mine that has a small apartment building told me that she was sued for copy right infringement because one of her tenants used the common building wifi to download illegal bootlegged videos. She was able to settle the case and one of her tenants is paying her back for the wrong doing. Still it was an expensive lesson.
Sometimes it feels that in our litigious society being sued is just normal for most landlords. It is in your best interest to minimize your exposure if possible. Sharing Wifi might not be in your best interest. I also recommend forming an LLC or some other legal entity to own the property to shelter you from being sued personally. This does cost a little more money but could end up helping you out in the long run. If you have an LLC and get sued then it is the LLC that is the plaintiff not you. The property itself would be the only assets that can be taken, all of your own money or other properties would not be subject to the lawsuit. This is really important if you own more than one property. Keep your house separate from other properties too.
Sometimes it feels that in our litigious society being sued is just normal for most landlords. It is in your best interest to minimize your exposure if possible. Sharing Wifi might not be in your best interest. I also recommend forming an LLC or some other legal entity to own the property to shelter you from being sued personally. This does cost a little more money but could end up helping you out in the long run. If you have an LLC and get sued then it is the LLC that is the plaintiff not you. The property itself would be the only assets that can be taken, all of your own money or other properties would not be subject to the lawsuit. This is really important if you own more than one property. Keep your house separate from other properties too.
