Responsibilities of a Condo Property Manager
Condos, as you know, are mostly small communities of residents living together. With so many people in a small space, it is natural for issues to arise, such as broken gym machines, stains on walls, a worn-out entrance carpet, or a rusted staircase railing. Obviously, these are common areas, and it is unlikely that one person or resident would pay for the entire housekeeping or stay back from their work to look after a plumber working in the laundry room or a mechanic in the gym room.
What does a condo property manager do?
For the tasks mentioned above, the condo association must hire a condo property manager. Condo managers make the operations of the condo stress-free. These managers take charge of the daily upkeep and essential tasks so that the condo runs smoothly. A condo manager makes sure the common areas and assets are maintained and complaints of the residents are resolved.
The condo community association’s board members hire the property manager and assign them tasks and duties. The BOD specifies the responsibilities in the form of a detailed job description, which often becomes part of the contract. The board members need to hire a condo property manager carefully because it is a job the entire condo residents will count on. As a board member, you must know what makes a good condo manager. The manager must have the essential skills required to manage a condo. Be sure to hire only a licensed and certified condo property manager.
If you’re not a community association's board member but are interested in joining your condo’s BOD, you need to meet certain condominium board member requirements. You can ask the association about their requirements and take the Florida condo board certification course to be eligible for the board’s membership. The course will broaden your knowledge about condo property manager responsibilities and help you hire a competent professional to perform the duties.
A condo property manager’s job description can include many duties, such as operations and real estate property management, association administration, financial management, organizing resources for general maintenance, community conflict resolution, customer service, marketing, and communication. We have explained these duties below.
Condo manager duties
Since safety is of utmost importance - especially with so many people living in close quarters, and most of them out during the day for work - make sure that the condo property manager you hire has proper ID, or hire one from a licensed condo management service. But what exactly are you hiring condo property managers to do?
The most important task of a condo manager is to make sure that everyday operations are carried out smoothly and without a hiccup. This includes making sure that board policies are enforced and followed, the condo is kept clean, and all the facilities are in proper working order. This also includes doing overall property management and maintenance work when needed, maintaining records and making sure the property is safe for the residents. While a condo manager is not officially on the board of directors, they might as well be for all the value they provide to the board.
Condo property managers are given the responsibility by the board of handling financial matters. They prove to be an important asset to the board of directors. They help with drafting budgets, collecting dues, scheduling audits, preparing financial statements and tax returns, and looking after the reserve fund. The property managers play an active role in advising the board on financial matters, such as the planning of a long-term reserve fund and operational budgeting. A property manager also has the responsibility of making sure that once all projects and repairs stay within the budget.
Many tasks pop up in a condo. Workers need to be hired, a security guard needs to be replaced, construction work needs to be started, repairs need to be made...you name it. All of these things are projects that fall under a condo manager’s belt. The condo property manager must ensure that everything is running smoothly, and he/she has to overlook the work. Some projects even call for greater involvement, such as repair work that is taking place in a resident’s condo while they are away at work. For security reasons, the property manager will overlook projects of such nature.
When there are a lot of residents living in and the property manager will need to undertake some serious conflict resolution tasks. Sometimes, tenants pick a bone with each other and sometimes with the management. The most common disputes pertain to noise and pets. A condo property manager will need to mediate in such situations and help reach a solution acceptable to all parties; they also enforce consequences, for example, imposing a penalty for keeping a pet in a no-pet zone. The role of a condo manager is to resolve all disputes without having them escalate to a legal stage.
A condo property manager acts as a liaison between residents and between the residents and the board. Condo property managers listen to the concerns of the residents and relay them to the higher authorities on the BOD. Likewise, the property manager also communicates instructions from the board to the residents and is available to answer questions that the residents may have so that everyone is on the same page. In this manner, a condo manager can close the gap between the condo owners’ parties.