Managing Litigation Lesson # 1
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Video Summary:
Why is this topic so important?
- The Powerpoint Slides are available in PDF
- A ZIP FILE is also available for download called Orlando Downloads.
PM is the lowest paid job within the real estate industry and the highest chance for litigation. Lots of litigation in our culture and the likelihood of getting sued is growing. Partly because the lease the tenant signs is an adhesion contract. The courts look at the landlord as a powerful rich guy potentially taking advantage of a poor tenant without legal representation. The laws of our country lean heavily in the tenant's favor.
Even the owners who hire us to manage their rentals are not encouraged to respect property managers with the low wages they pay us. We should not run a property management business without planning to manage the litigation which will come our way.
Why did NARPM want Robert teaching this course?
NARPM asked Robert Locke to teach this course because after 35 years and 10,000 tenants there were only seven lawsuits by tenants. That's one every 5 years. None of those lawsuits ever cost over five grand. In those 35 years there were three from owners, two owners which were lawyers themselves. One of those three suits from owners was so frivolous that the courts had the owner pay the legal fees after it was thrown out for being without merit. In the 35 years Robert managed Crown Realty and Management there were zero fair housing lawsuits while handling 18,000 applications.
So with that in mind, let's look at the strategies, policies and procudures to manage the threats of (and actual) litigation.
