If you're not sure whether the information you're passing along to the buyer is accurate, you should let the buyer know that--in writing.

Our legal system takes a dim view of deception, no matter how innocent the motive. If you're going to pass along information about a property to prospective buyers, make sure it’s factual or let the buyers know you haven't verified the accuracy of the information.

As a property manager, remember that the Golden Rule still applies—even when the tenant isn’t paying rent. Don't gamble with potential liability. Repair all known defects that could cause injury. Any time and money spent in avoiding liability will pale in comparison with the aggravation and costs of litigation.

During the last four years, it has shaken up the residential real estate industry, fundamentally changing the way business is practiced. What has caused this upheaval? Revision of state laws applying to realty brokerage relationships.