Key Person Risk Management – Real Estate

What is TAP?

Temporary Accounts Personnel or TAP, is a specialist, freelance accounts service, that has changed the lives of our clients.

TAP is somewhat like a labour hire service, except when our staff are on site, we do not “set and forget”. We are 100% dedicated to you and work as a valuable member of your team. We are committed to exceeding your expectations and continually work toward achieving your goals.

Our clients have told us that our Key Person Role Support has had a significant impact on their business. KPRS provides the peace of mind of knowing that your key people are supported to be their very best and the crucial information that they know will not be lost to the business if they chose to leave. Key Person Role Support is the only service of its kind that protects the long term well-being of your business. Our Tap-team achieve this by supporting you with your own Real Balance team who are familiar with your business, ensuring you are never left exposed in the event of a persons departure.

Key Person Risk Management

Management of key personnel is crucial to the success of all business, but real estate businesses are especially reliant on key people. We have all worked with “that” person, that one that knows everything about the business, whose departure may be potentially catastrophic.

Often, everything they know is stored in their head, they don’t rely on documented process or systems and they don’t “share” information with other team members. What happens if these people leave? What risk do you want to accept in these circumstances?

Management of key person risk is crucial to ensure the security and long-term sustainability of the business.  Factors that increase key person risk include the following;

Highly mobile workforce: employees have never been more mobile; they are always on the lookout for a better option or an opportunity that helps them climb their career-ladder. This mobility exposes small businesses to greater risk and losses for time spent training those people and the costs of re-training new people.

Individual capacity limitations: the scarcest resource in business, is the knowledge and experience of senior staff. However, they are still limited by the amount of time that they can dedicate to the business. A crucial risk management tool is to support these people with competent, professional staff, who effectively “extend their reach”, thereby making them more productive and valuable to the business.

Surge Capacity: from time to time, increased workflow may stretch the capacity of your team. Our TAP team will support your team and share the load to ensure everyone is able to work at their peak and there is no interruption to the business.

Protect against Concentration of Knowledge: as discussed earlier, there is often a concentration of knowledge that is held by key people and this is often undocumented and filed “in their head”. Our TAP team support key people in these roles to ensure that knowledge is not lost with the departure of key people.

Non documented Processes: closely related to the risk associated with a concentration of knowledge, is the risk of having undocumented processes and procedures. Our TAP team will document all processes and procedures and ensure that knowledge is retained within the business and available to all future staff.

Our TAP service helps business owners manage this crucial risk by supporting them with qualified professionals who “backup” key personnel.

The key roles that we’re are able to support in Real Estate include the following;


  • General Manager
  • Operations Manager


  • Financial Control
  • General Accounts
  • Trust Accounting
  • Property Management Accounts Support

Property Management

  • Property Manager
  • Property Officer

Administration Support

  • Sales Support

Long Term and Short Term Role Support

Operating a small business, especially for business owners, is a full time gig, and when I say full time, I mean 24/7 full time, not 9 to 5 full time. So, when key staff have time off, it can increase your burden significantly. TAP provides support to business owners and allows them to get on with their job knowing that it is business as usual in other key roles.

Typical reasons for using TAP;

  • Long Service Leave
  • Maternity Leave
  • Annual Leave
  • Personal Sick Leave

If you want peace of mind in your business, give us a call on 02 4942 1839 or email

Ray White Toronto “More than a Bookkeeper” from Real Balance Business Consulting