Common Element Repairs Service Standards
With two drastically different skill sets, Condo Managers and Property Managers both hold important roles in the successful managing of a community. To the outside eye these two people may sound like they hold the function, but knowing the difference and finding the right fit for the role is essential in any well-organized condo corporation.
What’s the difference?
Before breaking down the roles and understanding their requirements, the most important thing to understand is the differentiation of priorities. A Condo Manager acts in the interests of the condo corporation itself, meaning all of the owners of the condos combined. The Condo Manager is responsible for the organization of the condo building’s day-to-day functionality, and ensuring the policies set in place by the condo board are upheld. Property Managers however work on a more personal level with residents - the priority of the Property Manager is individual rental units, not the condo corporation. Now that we’ve defined the purposes of each role, it’s time to examine the requirements and strengths that each must possess for a well-organized condo community.
Condo Manager
With such high responsibilities and a broad range of duties, the most important thing to know is that a Condo Manager must be highly trained and educated. This position has strict licensing and regulatory requirements, and must have extensive knowledge of building systems. Their responsibilities require strict reporting and disclosure requirements, which means that the integrity and diligence of a Condo Manager is essential. With the interests of the entire condo corporation to uphold, getting an experienced and well-qualified Condo Manager is a must.
Property Manager
In contrast, the responsibilities of a Property Manager are highly varied and essential, though less specialized. By acting in the best interests of individual renters and managing individual units, a Property Manager is the interface between the residents of a building and the condo corporation. They are responsible primarily for the rental of units, including managing rent payments and screening potential tenants, though their duties often extend into various other tasks such as managing maintenance requests, keeping financial records, etc. While less technical, hiring a good Property Manager ensures responsible tenants, proper rent flow, and a well-run building.
Written by Michael Trendota*, RCM
Chief Operating Officer of Alwington Communities
Michael is a property management professional with experience operating a diverse set of buildings, including high-rise, low-rise, and townhouse-style. His passion is bringing neighbors together to build exciting and vibrant communities. Michael draws from his own condo board member experience to advise board members on the opportunities and challenges facing their communities. Michael holds a Masters of Business Administration from Queen’s University and is a Certified Property Manager.
* Though written by a qualified and experienced Condominium Manager, this article is not intended as legal advice. Please consult your own experts for advice.
