Risk Management

PEAK Real Estate Management Group engages in a process called CRM (Continual Risk Management). Risk Management is the process of analyzing exposure to risk or liability and determining how to best handle such exposure. It is the process concerned with the identification, measurement, control, and minimization of security risks to people, property, information, or any other asset.

Areas of Liability

A “liability” can be anything for which a person does not carry out his/her legal responsibility. Every associate should bring potential problems to the attention of the staff and assist in their resolution. Every associate is susceptible to a claim or lawsuit, even if he/she has just carried out the poor decisions of others. For example, if an engineer knows that a pool gate is not closing properly, but the manager delays repair due to budgetary constraints or other priorities, the engineer can conceivably be alleged as liable for this inaction. It is imperative the potential areas of liability are identified, corrected and or mitigated.

Community Conditions/Site Safety

Maintaining properties in good repair is an important component of customer service and risk management and is critical for optimizing the economic performance of a community in its market. Resident or associate injuries can result from unsafe physical conditions or unsafe or incorrect working practices. Community and equipment inspections are the primary means of identifying potential problems in advance, so as to determine procedures for eliminating or reducing hazards before accidents occur. Thorough community inspections are also helpful in regularly auditing performance against Company operating procedures and compliance with local, state and federal laws. And lastly, the inspections allow determination that the properties are being maintained properly.