What term describes a proactive approach to addressing potential problems before they arise in property management?

The term that best describes a proactive approach to addressing potential problems before they arise in property management is preventative action. This concept focuses on anticipating issues that could occur and implementing measures to prevent them from becoming actual problems. For instance, regular maintenance checks on properties to identify wear and tear before it escalates into costly repairs exemplifies preventative action. This strategies reduce downtime and minimize expenses, ultimately leading to better management outcomes.

In contrast, corrective action typically entails steps taken to fix a problem after it has occurred, which does not align with the proactive nature of prevention. Reactive management refers to responding to issues only after they arise, which is fundamentally opposite to the proactive intent. Mitigation strategy, while related, generally refers to reducing the severity or impact of identified risks rather than preventing them entirely. Thus, preventative action is the most accurate description of a proactive management approach.