By: Anitra Wright
Instructor: Yvette Snowden
December 2, 2012
Organizations have a responsibility to monitor and enforce behavior that represents a sense of social responsibility. Therefore, the social performance of a company must be organized in a manner that takes into consideration the laws for which they should uphold. One way to ensure that organizations are aware of those laws and refraining from illegal behavior is to adopt a code of conduct. The code of conduct is contingent upon the industry in which a company operates, but no matter what industry that is, the organization must recognize the laws pertaining to them and ensure that all employees are in compliance.
I’m seeking to establish a code of conduct for my property management company. The property management industry is closely related to the real estate industry because it usually involves the purchase of commercial or residential real estate. The property or properties are usually occupied by tenants who require its owners to maintain their investment and to ensure tenant relations are given considerable attention. Property managers can be owners of the properties they manage or act as third-party managers for owners of real estate properties. Third-party management groups are paid based on a management fee charged to the owner for maintaining the upkeep of the property, employee and tenant relations. Property management groups are also responsible for providing the owners and/or investors with accurate financial information in relationship to how the property or properties are performing. Due to the fact that this a customer/client oriented business, it is very important to establish a code of conduct that clearly defines how this company should act and what they are responsible for doing.
Establishing a Code of Conduct
The first thing to consider when establishing a company code of conduct is the industry in which
References: NAR: Real Estate Resources: 2012 Code of Ethics and Standards of Practice. (January 2012). Retrieved on November 30, 2012, from http://www.realtor.org/mempolweb.nsf/pages/code Property agents board Code of conduct. (2007). Retrieved on December 1, 2012, from http://www.propertyagentsboard.com.au/code-of-conduct.htm Code of conduct and Disciplinary Procedure 2012. (2012). Retrieved on December 1, 2012, from http://www.rla.org.uk/landlord/documents/about/code_of_conduct.shtml