Responsibilities in Condo Property Management

Responsibilities in Condo Property Management

Responsibilities in Condo Property Management

The primary purpose of condo property manager is to assist the community’s board of directors and oversee the operations of a condo association. Unlike homeowners’ association (HOA) property managers who manage communities with single or family homes, condo property managers typically manage condominiums. Read on the learn more about the role of a condo property manager.

5 Main Responsibilities of a Condo Property Manager

Condo property managers are key in ensuring smooth condominium operations and effective management. Important condo property manager responsibilities include:

1. Project management

With so many moving parts, it can be challenging for volunteer board members to manage every project. That’s where condo managers come in. Condo managers can oversee any type of project, varying from small maintenance tasks to larger undertakings requiring construction or third-party vendors.

Their project management duties may include things like:

• Contacting someone to fix gym equipment.

• Notifying residents about upcoming maintenance.

• Organizing landscape and common area maintenance projects.

2. Communication management

Good communication contributes to the condo’s stability. As the common source of communication between all parties in the association, including residents, board members, and other property managers, condo managers must have patience and strong rapport-building and active listening skills.

3. Financial management

Keeping the condo association financially sound is a very crucial duty. Because it can be daunting, many boards rely on assistance from their condo property manager. Maintaining the financial health of an association involves more than just paying bills on time; a condo manager also usually helps with:  

● Tracking financial statements.

● Managing tax returns.

● Scheduling audits.

● Collecting dues and payments.

● Drafting yearly budgets.

● Advising the board regarding the community’s reserve funds.

● Managing the financial status of repairs and maintenance.

4. Conflict management

Unfortunately, conflict is inevitable. Sometimes, a condo manager may have to act as the mediator between parties with conflicting issues. They’ll diffuse situations, resolve disputes, and enforce rules and guidelines set forth by the condo association. Common disputes they may have to mediate include:

• Noise complaints.

• Pet issues.

• Property boundaries.

• Parking arrangements.

• Smoking areas.    

5. Operations management

A condo manager should advise on key aspects of the community’s operations. They’ll need to be knowledgeable and comprehend the structure and functions of the association to do this successfully. Operations tasks may include:

● Keeping track of all services and records.

● Managing common areas and repairs.

● Ensuring all areas are cleaned and well-kept by staff.

● Keeping the condo in compliance with all city codes.

● Distributing community guidelines and policies to all residents.

● Updating community guidelines and policies as needed.  

3 Tools That Help Condo Managers Excel at Their Jobs

In the fast-paced world of condo property management, staying equipped with the right tools can significantly enhance a condo manager's ability to excel in their role. From streamlining administrative tasks to improving communication and fostering tenant satisfaction, the right tools can make all the difference.

Here are three essential tools we recommend for every condo property manager:

Software - One of the most valuable tools that condo manager can use is HOA software. This type of software is designed to help managers take on multiple tasks and manage them all on one platform. Leveraging this software alleviates administrative hassles and optimizes areas like communication between residents and board members in a community.

Tenant satisfaction surveys - Another valuable tool managers can utilize is tenant satisfaction surveys. These surveys are often conducted to identify areas of improvement for the community. Many condo property managers find surveys beneficial because they provide feedback from the resident’s perspective and give them an opportunity to be heard.

Managers may also utilize digital voting to run these types of feedback surveys. Surveys may include questions about maintenance, property conditions, and customer service.    

• Property manager extended training – Property management certifications are a great way for managers to enhance their careers and demonstrate their proficiency within their industry. Depending on the state, some property managers may require specific training and certifications, such as a real estate license or property management certification, to become a certified property manager. Other management certifications include:  

o National Apartment Leasing Professional (NALP) certification - This certification is for newer property managers looking to hone their skills with prospective clients, including learning the ins and outs of leasing negotiations. This certification requires around six months of experience, 25 hours of coursework, and a final exam taken within a year of registering.

o Certified Apartment Manager (CAM) certification – The CAM certification is a prestigious credential that equips property managers with advanced skills and knowledge to achieve the best results. The requirements for this certification may vary, but often involve completing an exam or an additional 40 hours of education. By earning the CAM certification, property managers prove their expertise and position themselves as trusted leaders in the apartment management industry.

How Can TownSq Help Your Community?

TownSq is a comprehensive platform that offers invaluable assistance to condo communities by bringing residents, boards, and managers together. It serves as a centralized hub for communication, enabling everyone to stay connected and informed.

Through TownSq, condo managers can:

• Share updates and announcements.

• Upload community documents.

• Track and resolve maintenance or architectural requests.

• Manage amenities and reservations.

• Organize community events.

• And so much more!

Streamline Condo Property Management with TownSq

Condo property managers shoulder a wide range of responsibilities to ensure the smooth functioning of their communities. From financial management and maintenance coordination to resident communication and rule enforcement, condo property management demands efficiency and effective organization. That's where TownSq comes in. TownSq empowers property managers to focus on what truly matters—creating thriving and harmonious condo communities. Discover how TownSq can revolutionize your management approach and unleash the full potential of your condo community. Request a demo today!