1732 Quail Ridge Road
Raleigh, NC 27609
Tel: 919-878-8342 Toll-free: 888-606-5455 Fax: 919-516-4178
Email: GLFrench@nc.rr.com
Celebrating Our 15th Year of Commitment to Excellence
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1732 Quail Ridge Road Raleigh, NC 27609
Tel: 919-878-8342 Toll-free: 888-606-5455 Fax: 919-516-4178 Email: GLFrench@nc.rr.com
Celebrating Our 15th Year of Commitment to Excellence
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Excerpt from Chapter 11, Risk Management Strategies
Managing Risk Risk control involves implementing appropriate measures to minimize losses from known risks. Certain risks are inherent in real estate management and cannot be avoided. Sometimes property is damaged by fire, natural disasters, vandalism, or resident negligence. In these instances, management's objective should be to control the risk and minimize any loss. To do this, site managers need to be liability conscious -- i.e., anticipating the worst possible thing that could happen and then taking steps to prevent it. The approach is simple and straightforward: You should ask yourself, "If the worst happens, what will be the consequences?" and "What do I know and when did I know it?" The first question captures the essence of risk control -- i.e., implementing preventive measures to minimize the possibility of legal action. The second question addresses the issue of liability. If a site manager is aware of a hazardous condition but does not take action to correct it, his or her inaction may be considered negligence, and the property could be liable for any subsequent injuries.
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1732 Quail Ridge Road - Raleigh, NC 27609 Call Toll Free: 888-606-5455 Fax: 919-516-4178 |
