Credensa is an innovating tech platform enabling property management professionals, and the maintenance contractors who support them, to share and maintain currency of, and access to, the accreditations required to ensure risk is properly addressed in tendering and awarding contracts. In writing posts for Credensa, I aim to broaden engagement amongst readers in a specialised niche using relevant but often tangential opening hooks. Blog post for property maintenance accreditations platform Credensa.
Cutting Risk and Saving Time
The opening titles to the TV intelligence thriller ‘Homeland’ feature a fragmented voice over of the show’s heroine, CIA agent Carrie Mathison, confessing that “I missed something once before. I won’t… I can’t let that happen again.”
As the line is spoken over distinctly 9/11 imagery, the implication is that she had been party to “missing” something that might have averted the disaster that unfolded that day.
Risk. The trap awaiting every Property Manager.
Working in Property Management, the careful management of risk is as much an irritation as a responsibility, made worse by its inherent twin-edged blade.
“Miss something”, in any sense and, depending on what it is, the consequences could be truly catastrophic, with lives impacted or lost, and a mountain of culpability and guilt unleashed. But even if the something you miss is not of a nature that leads to catastrophe, it could still result in an eyewatering liability for your company or even for you yourself.
While Property Management is fraught with areas of exposure, the appointment of contractors to your supplier roster, and the award of projects to those firms, opens up a particularly high degree of vulnerability.
One accident, let alone a catastrophe, and loss adjusters can be counted on to trawl your records for evidence that contractors to whom you had assigned work had in place a full inventory of date-valid and appropriate industry certifications, insurances, certificates of training and retraining and, in many cases, manufacturer training and accreditation.
These could be required not only at contractor level but also, in some cases, at individual tradesperson level.
Even for the best run Management firm, keeping on top of these, ensuring their currency and availability year round across a portfolio of dozens (or possibly hundreds) of contractors, is the stuff of nightmares.
No-one wants to spend their days badgering busy maintenance firms for paperwork they may or may not have to hand. It’s tedious and thankless… but a promise to send it over that is never delivered on could be the difference between a problem being your liability, or that of someone else.
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