5 Future Considerations For Condo Property Managers

by | Apr 18, 2019 | Uncategorized

A condo manager is responsible for the day-to-day maintenance of their building, ensuring everything is in proper working order. Property managers must also supervise staff, perform administrative work, and follow up with condo fees and payments.

It’s then not surprising that is no easy task to manage large, high-rise condominium buildings, filled with tenants who have various needs, concerns, and stresses. It’s also difficult for them to consistently look to the future, predicting the building’s need for renovations, repairs, maintenance, and changes in regulations.

So, to keep you up to date on the latest ways the condo industry continues to evolve, we’ve created the following list:

1. Thinking Ahead Is Critical

Now, more than ever before, it is critical to think and plan ahead as a property manager. This is especially true as technologies advance, geared toward a younger generation, and regulations for various buildings and facilities change.

Therefore, it is important to make connections in your industry and to build a strong network of peers. It is also critical that you stay up to date via LinkedIn, industry related blogs, Condominium Boards, Tarion, and other regulatory bodies.

In other words, pay attention and do your research. You don’t want to be the last to know about a change that may impact your job forever. Check out our blog for more information:

2. Communication Must Be Prioritized

In addition to networking with industry peers, communication with your internal team, your tenants, and your partners is essential to everything a property manager does. Clear communication demands accountability and allows property managers to deliver a personal touch in the way they do business.

Be sure to get out there a meet people, shake hands, and schedule those important in-person meetings. While technology can help to improve efficiencies, real-life communication is still the best practice in management.

3. The Role of Property Manager Has Evolved

Property managers often enter the industry from multiple different personal and educational backgrounds. Therefore, training has evolved to extend into many different aspects of the job, creating well-rounded professionals, capable of leveraging the latest technologies to streamline various tedious tasks.

4. Property Managers Are Retiring

As a new generation of property managers enters the workforce, reading to take on new technologies and challenges, condo managers who have been in the industry for years and even decades are stepping down or retiring. Not only is there an experience gap between these industry professionals and new hires, but there is also a knowledge gap that needs to be strategically considered.

When possible, it is wise for those interested in entering the property management field to study or shadow a retiring property manager, learning as much as they can from those who have come to know the industry like the back of their hand.

5. Finding Partners You Can Trust

Lastly, to be a successful property manager, one must find partners they can depend on. At Keller Engineering Engineers, we partner with condominium property managers to deliver customized condo engineering services that will address the unique needs of a multi-level building.

We offer Condo Performance Auditing, Condo Reserve Fund Studies, BB19R, and other quality condo engineering services that you and your tenants deserve. Call us today at 1-888-940-0571 to learn more about how we do things differently when it comes to condominium engineering.