Rhode Island Real Estate Continuing Education - RHODE ISLAND School Permit: REE.0001035
4.0 hours Property Management Course Syllabus
4.0 Elective Hours.
To create lucrative and stable properties, property managers must effectively manage risks to the property owner and tenants as well as the property. This involves minimizing legal action against property owners, hiring competent employees and contractors, maintaining safe and legally-compliant properties, and providing appropriate insurance coverage. This course will describe risk management practices.
A significant component of property management is managing risks to a property and its owner as well as the property management company. Risks to a property include: legal claims from employees, tenants, and others; insurance claims against the property; physical damage to the property; and building code violations.
Effective risk management is important as it helps property owners achieve financial and other goals; protects property owners and property managers from legal claims; improves the property's marketability; helps create a safe and pleasant living environment; and helps protect tenants, building personnel, and others from physical and environmental hazards, catastrophic events, and crime. Insurance is vital for managing risk because it limits financial loss due to property damage, injuries, and other claims. Common types of insurance include liability, property, and worker's compensation.
This course covers ways to develop and implement strategies to reduce legal risks for property owners and minimize damage to their properties.