BUSINESS FUNDAMENTALS
PROPERTY MANAGEMENT
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“It Depends” WHY IT’S BAD POLICY TO SAY THESE TWO SCARY WORDS IN THE PROPERTY MANAGEMENT BUSINESS.
by Todd J. Ortscheid
I
f you follow any of the property management groups on social
“It depends” should be thought of as the two scariest words you can say in business. And even more so for the property management business, which is inundated with litigation. The National Association of RE- ALTORS ® did a study on real estate
litigation and found that “property management cases are over- whelmingly the most common type of claim” in real estate litigation. They went on to say that “property management cases [. . .] also rep- resent some of the largest damage
media, you’re probably familiar with the following conversation example: Question: “How should I handle XYZ issue with my tenant/owner?” Answer: “Well, it depends…”
30 | think realty housing news report :: june / july 2019
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