Podcast
Questions and Answers
Match the following terms with their definitions:
Match the following terms with their definitions:
Negligent hiring = Hiring someone without adequate background checks Negligent retention = Keeping an employee despite known issues Criminal background check = A review of someone's criminal record Restitution = Compensation for loss or damage
Match the individuals with their consequences:
Match the individuals with their consequences:
Jerry = No formal charges proven Sam = Spent three days in jail Greg = Explained the situation to tenants Tenants = Suffered losses from thefts
Match the following events with their timelines:
Match the following events with their timelines:
Sam's theft of services conviction = A year and a half ago The apartment thefts = Right after Sam was hired Sam's check fraud conviction = Three months ago Greg's background check on Sam = Two years after hiring Sam
Match the following workplace safety regulations with their descriptions:
Match the following workplace safety regulations with their descriptions:
Match the following actions with their relevance to employee safety:
Match the following actions with their relevance to employee safety:
Match the following responsibilities of a manager:
Match the following responsibilities of a manager:
Match the following statements about employee injuries:
Match the following statements about employee injuries:
Match the following concepts with their implications on safety:
Match the following concepts with their implications on safety:
Flashcards
Negligent Hiring
Negligent Hiring
Occurs when an employer hires an individual without conducting proper background checks, leading to harm caused by the employee.
Negligent Retention
Negligent Retention
Occurs when an employer continues employing an individual despite knowledge of their misconduct, which leads to harm.
Importance of Background Checks
Importance of Background Checks
A thorough background check is crucial before hiring an employee to identify any potential risks.
Unfounded Belief affecting Investigation
Unfounded Belief affecting Investigation
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Employer Awareness in Negligent Retention
Employer Awareness in Negligent Retention
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What is retrofitting?
What is retrofitting?
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Why are safety inspections important for property managers?
Why are safety inspections important for property managers?
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What should an employee handbook for property management employees include?
What should an employee handbook for property management employees include?
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What should a property manager request from an independent contractor?
What should a property manager request from an independent contractor?
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OSHA first aid requirements
OSHA first aid requirements
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Study Notes
Risk Management Learning Objectives
- Students should be able to explain negligent hiring and retention, and identify ways to reduce risk
- Discuss employee handbooks and types of issues they should address
- Discuss the role of inspections and repairs in risk reduction
- Compare emergency plans and manuals
- List common crimes of concern to property managers and discuss methods of addressing them
- Compare general hazard insurance with special form insurance
- List types of homeowner insurance policies
- Contrast bonding and errors and omissions (E&O) insurance
Suggested Lesson Plan
- Students will review the previous chapter on Federal, State, and Local Laws
- Students will review learning objectives for Chapter 15 on Risk Management
Negligent Hiring and Retention
- Negligent hiring is when an employer is liable for an employee harming others
- Negligent retention is when an employer fails to remove an employee who is dangerous after learning about the danger.
- To avoid negligent hiring, thoroughly screen applicants
- Liability for negligent hiring/retention also applies to contractors
- Ensure contractors have proper insurance
Reducing Risk from the Property
- Inspect properties for safety issues immediately upon taking over management
- Hire professionals to inspect specialized equipment such as elevators
- Address necessary repairs promptly, but seek specialized help if needed
- Examples of necessary repairs are boilers, elevators, pipes, and wiring
- Create a maintenance work log with detailed information on issues discovered, repairs performed, and who performed the repairs.
- This acts as evidence against accusations of unequal treatment of service requests
- Take precautions to warn tenants and visitors of danger before and during repairs.
Emergency Preparedness
- Establish an emergency plan in the emergency procedures manual.
- Communicate important parts of the plan properly.
- Include communication methods for emergencies, such as contact information for management, utilities, police, fire, and emergency services.
- Create a map of the building to show the locations of utility shutoff valves and switches.
- Hold regular drills to test and improve the plan.
- The plan should contain information on evacuation routes and procedures to follow during various types of emergencies
- Ensure staff safety during emergencies
- Communicate essential aspects of the plan to tenants; include them in meetings, handbooks, and website disclosures
- Make sure emergency plans are tailored to the specific property and relevant local ordinances
Security Issues
- Comply with door and lock requirements (e.g., state/local ordinances)
- Have proper security personnel and equipment, including personnel and alarm systems
- Have security plans developed to address specific crimes (e.g., graffiti and vandalism, drug activity, computer crime, and identity theft)
- Follow procedures to reduce the risk of crimes within the property including; lighting, landscaping, and surveillance.
- Ensure the security and safety of tenants
- Follow any state or local regulations about security issues
Insurance
- Maintain insurance to address potential risks
- The insured has to have an insurable interest, which is their ownership.
- Policies may have different limits for the amount of insurance per incident and per year
- There are multiple types of insurance (e.g., hazard, renters, liability and automobile); consult a broker for appropriate coverage to reduce the risk of liability toward the owner
- Include cost of repairs, damage, and legal defense in policy evaluation
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