What is one of the risks of poor property management?

Financial misappropriation and waste is a significant risk associated with poor property management. When property management practices are not conducted properly, it can lead to a lack of accountability and tracking of financial resources. This can result in funds being misallocated, spent without proper oversight, or even fraud, ultimately impacting the overall financial health of the organization.

Additionally, inadequate property management may mean that maintenance and resources are not managed effectively. This can lead to increased operational costs, such as higher repair bills for neglected property, further exacerbating financial waste. By maintaining robust property management practices, organizations can safeguard their resources, ensure that funds are used appropriately, and ultimately enhance their financial stability.