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Does the Property Law require property management companies to buy public property and equipment insurance for the community?
Hello, the law does not require property management to buy insurance for residential properties. The owner of residential property is the owner of the property, and property management is the manager entrusted by the owner. Property management has no obligation to buy insurance.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.
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