The Ultimate Tool for Your Condo Development

Posted by on Sep 6, 2014 in Property Management | 0 comments

The Ultimate Tool for Your Condo Development

I’m often asked why a condo development needs a professional property manager. After all, isn’t the role merely to call a plumber when a pipe bursts?

If only it were that simple! The truth is there’s a lot more to managing a condo development effectively than you may realize. A professional property manager is much like a Swiss Army Knife, comprising a variety of useful tools and skills in one package! It’s much more than standard property management; it’s also about governance, accounting, communication, mediation, forward planning and the list goes on!

Your home and your ownership interest in the common elements of the development represent a huge asset – possibly your largest asset. That’s important enough to consider what tools a professional condominium manager has to offer:

ŸProfessional managers must be aware of many laws and regulations—real estate, corporate and condominium laws, government regulations and the terms of the governing bye-laws and leases of each condo development.

  • Professional managers must have a working knowledge of finances, accounting, budget preparation, taxes and insurance.
  • Professional managers must have strong personnel management skills—hiring and supervising contractors and staff.
  • Professional managers must work and communicate effectively with residents, owners, board members and a host of service providers to resolve disputes and facilitate communications.
  • Professional managers must have a keen understanding of property maintenance—landscaping, repairs and replacements, facilities upkeep and mechanical maintenance.
  • Professional managers coach and mentor the board members who govern the association. They help conduct meetings and ensure compliance with governing documents.

Doesn’t it make sense to have a knowledgeable, trained, professional condo development manager watching out for your interests? Leverage the multiple tools of a professional property manager to enhance your condo development. Ask Masterkey how.

 

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