When assessing risks, which action is typically taken?

Walking the property is a crucial action typically taken when assessing risks because it allows community managers to conduct a thorough visual inspection of the premises. This hands-on approach provides valuable insights into the condition of the property, identifying potential hazards or maintenance issues that may not be evident through reports or discussions alone.

By physically walking the property, managers can observe elements like landscaping, building structures, parking areas, and amenities in real-time. This direct observation helps to ensure a comprehensive assessment of both the physical condition of the property and how residents interact with the space, thereby facilitating proactive management of risks.

While discussing with board members, consulting external advisors, and even ignoring minor issues may have their place in risk management, these actions lack the immediacy and firsthand knowledge that walking the property provides, which is essential for identifying and addressing potential risks effectively. Engaging directly with the community environment is an invaluable tool in risk assessment.