Property Management
In Michigan, a residential property manager who discovers their management company's employee stole rent checks is required to:
AHandle the matter internally without disclosing to the owner
BImmediately notify the property owner, take corrective action, and potentially report to authorities and insurance✓ Correct
COnly reimburse the owner once the theft is recovered
DWait for the employee to voluntarily return the funds
Explanation
A property manager who discovers employee theft of owner funds must immediately notify the property owner, take corrective action (terminating the employee), potentially make restitution, and may need to report to law enforcement and the bonding/insurance carrier.
Related Michigan Property Management Questions
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