What must a licensed property manager exercise care in obtaining information about?

A licensed property manager must exercise care in obtaining information about environmental issues because these issues can significantly impact the safety, compliance, and value of the properties they manage. Understanding environmental regulations and potential hazards—such as hazardous waste, lead paint, radon, and other environmental concerns—is critical. This knowledge not only helps property managers ensure compliance with local, state, and federal laws but also protects tenants and property owners from potential liabilities.

Moreover, being knowledgeable about environmental issues enables property managers to promote sustainable practices and manage risks associated with environmental factors that may affect property value and tenant satisfaction. These responsibilities underscore the property manager's role in due diligence, helping to maintain safe and compliant living and working environments.

While obtaining information about local tax regulations, the property owner, and market trends is also important, the unique complexities and potential liabilities associated with environmental issues necessitate a particularly careful approach. Addressing these matters can have lasting implications for health, safety, legal compliance, and overall property management success.