Property managers just starting out – and those operating with a limited staff – often feel like they can’t afford to go on vacation. It isn’t the money – it’s worrying that some catastrophe will show up just as you board the plane or drive beyond the city limit sign.
Staying abreast of changing regulations is a laudable goal, but realistically this requires a full-time employee designated to the task. Administrative staff at small, self-managed properties often wear many hats. Whether it is lack of time and resources, or simply poor management decisions, setting policy based on incorrect information is a costly mistake.