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  • Writer's pictureJo-Anne Black

Mitigating Risk in Property Management Business: The Importance of Regular Audits for small teams

Updated: Feb 9

By Guest Blogger: Jo-Anne Black

If you own a property management business and you only have one or two property managers in your team, this post is for you.

There’s a good chance, you have your property manager(s) doing “end to end” work right now.

Perhaps they each have a portfolio, and they each do their own trust accounting, maintenance, routines, leasing, etc for their own portfolio.

And, while it’s great for landlord experience (they love having one point of contact)...

It’s high risk for you.

If one person is handling everything “end to end” without any oversight, things can go wrong.

Now your team is probably great, and they wouldn’t do anything wrong on purpose.

But accidents happen, mistakes get made, and without you (or someone) supervising the process (or at least checking it randomly) these mistakes could create a mess in your business, and your trust account.

If you’re the person in charge of property management, make sure you’re doing regular random audits of your team’s work.

And if you have a PM department manager, make sure they’re doing these audits too.

Need help creating a random audit plan for your department?

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