Hiring 1099 contractors instead of full-time staff poses significant risks for multifamily property management, especially regarding legal compliance and classification of workers.
Many property managers mistakenly refer to independent contractors as 1099 employees, but it's crucial to recognize there is no such classification and this misunderstanding can lead to costly legal issues.
Property management companies increasingly face staffing challenges, prompting some to consider hiring independent contractors. However, this can jeopardize compliance and subject companies to legal scrutiny.
The urge to hire contractors to fill critical staffing roles in property management without understanding the rules can result in severe risks and liabilities for the company.
#property-management #staffing-challenges #1099-contractors #legal-compliance #independent-contractors
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