Property Managers

Property managers play a crucial role in the administration and operation of a condominium, acting as the professional link between the condominium’s board of directors, the residents, and service providers. Their primary responsibility is to oversee the day-to-day operations of the condominium, ensuring that the property is well-maintained, finances are properly managed, and residents' needs are addressed efficiently.

Key Responsibilities:

1. Operational Management: Property managers are responsible for the overall management of the condominium, including overseeing the maintenance of common areas, managing service contracts, and ensuring that all building systems (such as HVAC, plumbing, and electrical) are functioning properly.

2. Financial Management: They manage the condominium's finances by preparing budgets, collecting maintenance fees, paying bills, and ensuring that the reserve fund is adequately maintained. Property managers also provide financial reports to the board of directors and assist with financial planning.

3. Communication and Resident Relations: Property managers serve as the primary point of contact for residents, addressing their concerns, handling complaints, and providing information about the condominium’s rules and regulations. They also communicate important updates from the board of directors and organize annual general meetings (AGMs).

4. Enforcement of Rules and Bylaws: Property managers ensure that the condominium's rules and bylaws are enforced consistently. This includes addressing violations, mediating disputes between residents, and taking necessary action to maintain order within the condominium community.

5. Board Support: Property managers provide administrative support to the board of directors, including preparing meeting agendas, recording minutes, and implementing board decisions. They also offer professional advice on legal, financial, and operational matters to help the board make informed decisions.

6. Vendor and Contractor Coordination: They are responsible for hiring and managing vendors and contractors for various services, such as cleaning, landscaping, and major repairs. Property managers ensure that work is completed to a high standard and within budget.

7. Compliance and Legal Matters: Property managers ensure that the condominium complies with all relevant laws and regulations, including the Condominium Act, health and safety regulations, and municipal bylaws. They may also manage insurance policies and handle legal matters on behalf of the condominium corporation.