What is risk management?

Put simply, risk management is about identifying possible risks that could arise in relation to your property and putting in place sensible measures to prevent them. This should include all of the processes involved in assessing risks, assigning ownership, taking actions to mitigate them, and monitoring progress.

Effective risk management helps to reduce possible hazards, and builds confidence to innovate and improve. It will also help in preventing any claims against the Residential Management Company and it’s Directors for loss, damage or injury. It will also enable your site to reach its full potential in terms of saleability and market value.

There are many types of Health and Safety issues associated with blocks of flats, all of which are a subject in their own right.

For more information on a range of issues, please read our Flat Living Magazine.

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Key articles:

What is risk management and why do we need to bother with it?

The importance of risk management.

Risk assessments…what should you look out for?