Top Mistakes Being Made By Business Owners

Our industry is heavily regulated.  As an industry leader and professional we need to keep data on everything and everything that we do.  This is such an important factor of running a real estate agency or a management rights business.  

I work based on “prepare for the worst and expect the best”. Good business practices include minimising risk.

How do you minimise risk?

You work on policies and procedures in your business and provide staff training for those policies and procedures.  You chase the correct way to complete forms, the way to document information, how detailed you need to be and how to file and keep this information. 

When I conduct rent roll valuations or rent roll due diligence, I have the opportunity to go into the behind the scenes of the business and in many occupations I find paperwork not completed correctly and missing.  

Having procedures in place to have this part of the business checked is good business management. 

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