What is the Role of a Condominium Manager?
Each property we manage has its own needs and faces its own unique challenges depending on the size, age and nature of the property. A condo manager’s range of responsibilities may include but are not limited to:
- collecting common expense fees
- keeping records for the condo corporation
- responding to owner complaints
- ensuring maintenance and repair of the property
- hiring and monitoring service companies, and overseeing staff and contractors
- preparing draft annual budgets and overseeing the reserve fund
- implementing an emergency management plan and responding to emergencies
- preparing status certificates
- issuing meeting notices and reporting on the affairs of the corporation
- organizing board meetings and overseeing administration of all owners’ meetings
- monitoring the corporation’s insurance
- preparing financial reports and arranging for audits
- advising the condo board on how to comply with the Condominium Act, 1998, and with legislated or government-mandatory repairs
- advising the board on its financial responsibilities (e.g. contributions to the reserve fund, long-term reserve fund planning)
Category:
Condominium Management Group and managers’ role