On the other axis you have a probability/frequency scale ( how likely is this thing to occur?

The signal transmits a much shorter distance due to higher frequency and shorter wavelengths than previous technology.

In doing that the frequency of situations like this will be greatly reduced.

Based on your reply, seems to me that you are under the impression that you have to "hire" and pay the core team on certain frequency...which is not the case, even though they obviously don't work for free.

What is the preferred method/frequency of communication? 

But one of the odd things about real estate is that with surprising frequency, properties are bought and sold for prices and under conditions that are largely independent of the market.

Typically, you can charge a premium for shorter leases since the risk and frequency of turnover is higher.

3) What is the preferred frequency and method of communication? 

How is this calculated and what is the frequency payment is made?

I think you're aware the PM fees for STR are on average higher than long term rental PM fees (it's just more frequency of work), but really it's going to come down to city legislation and the building condo association.