Pennsylvania Real Estate Continuing Education Courses - PENNSYLVANIA School License: RU003266
PA 3.0 hours Managing Conflicts with Tenants, Clients, and Employees - Course Syllabus
3.0 Elective Hours
The property manager's relationships with the client are the single most important relationship in managing a property for three reasons: the property manager has a fiduciary responsibility to the client. The success of the property manager's business depends on this relationship, and this relationship has implications for relationships with other stakeholders like tenants and employees.
Property managers have a fiduciary responsibility to the owners of the properties that they manage. They must maximize the benefit for the property owner by acting in the same manner as a prudent investor would in managing a property, and not engage in self-dealing.
This course discusses methods for resolving complaints/conflicts that clients have with property managers like insufficient communication, unreliable service, failure to meet their needs, and personality clashes. Important ways to prevent or resolve these issues include creating customized communication procedures for each client, delivering reports by their due dates, reporting problems immediately, maintaining full occupancy in clients' properties, and addressing clients' issues with personality. Because property managers have a fiduciary responsibility to their clients, it is vital to prevent and resolve conflicts with them. Upon completion of this course, the real estate professional will have the knowledge needed to meet their legal obligation to always act in their clients' best interests.