Understanding the Risks of Property Management

by | Jun 25, 2013 | Real Estate

Even though property management seems like a relatively safe job, it can come with its fair share of dangers.  Mad tenants, criminal activity, disgruntled visitors, domestic violence issues, and many other bad things can potentially occur at residential properties.  Showing properties to unknown prospective tenants is not always safe either.  Property managers need to be prepared.  They can take extra precautions by never showing properties after dark and by always letting people in their office know where they are if they are working alone out in the field showing properties.  Screening tenants before showing them available properties is a good idea because then you have their personal information on file in case anything hostile should happen to occur.  Most property management agencies have a policy in place to keep their employees safe, and if they do not, then they should implement one immediately.

Bank the Cash

Real estate asset management Sacramento firms should have a strict policy in place to never keep large sums of cash on site.  This is for their safety and the safety of tenants and other employees who work there.  If criminals or money desperate individuals know that a lot of money is kept on the premises, then that could spell big trouble for a property management company.  They are opening themselves up for theft or robberies if they insist on keeping a lot of cash lying around.  Property managers obviously must have some money because they handle rent collections and other matters.  However, they need to routinely deposit the funds into their bank each day, and they should always have the premises monitored with security cameras.  If they are in a high crime area, then they may also consider extra security features, such as an alarm button.  Staying safe is paramount, so managers and other employees need to be aware of their surroundings at all times, especially if they are working after normal business hours.

Use Common Sense

Property managers can stay safe in most cases, as long as they use their common sense.  If they need to show a property after hours, then they may need to take another manager or office assistant along.  If they will be going to work early in the morning or leave after dark, then they need to have their parking lot well lit.  These are things that everyone needs to do to be safe, not just property managers.

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