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Property Management Elert – Summer 2012

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Risk and Insurance Issues for Property Managers

The operational and contractual risks faced by property managers vary widely.

Some manage the overall maintenance and care of their clients’ properties but contract out the actual services, while others maintain their own staff for such work. Services may include cleaning, maintenance, collection of rents, payment of bills, screening and recruiting tenants, security, evaluating and purchasing insurance, and so on. Clients range from owners of large commercial and retail properties to owners of individual rental dwellings, and each operation will present its own unique risk exposures.

In evaluating risks, we recommend a four-step process in your consideration:

  1. First, try to imagine everything that might happen to cause financial loss.
  2. Second, make your best estimate of the probable maximum loss you would face in each case and assign it to one of three categories:

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Getting to Know Us

Advanced Reporting is more than your complete background screening solution. It is also a collection of staff members with varying backgrounds and interests. We’ll be introducing you to all of them over time, but we are starting with General Manager Elaine Rosenberg.

Advanced Reporting: What’s your story?

Elaine Rosenberg: Born and raised in Salem, Oregon, I ran all the way east to Yale University for college. Those were a great four years, and they helped me realize what a wonderful place Oregon is to live. Learn More.

10 Ways to Keep Residents Longer

New Tenants

  1. When screening residents, length of employment and rental history are the biggest predictors of Longevity.
  2. Give them market rent or just below it.
  3. Respond to resident calls in a timely manner, and take care of the property.

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