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Roles and Responsibilities of Condo Management

 


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Condominium living is a multidimensional experience for the people who choose to do it. On the one hand, you do pay mortgage on your home, so technically, it belongs to you. You can not be evicted, you do not have to renew your lease, and you can sell your home if and when you choose. Even though the unit owner owns their space and takes responsibility of most of the repairs and upkeep, however, most communities have a board of directors that then hire individuals or corporations to serve as condo management .

These individuals have many responsibilities to the community itself and should be chosen by the board with great care, as they will be directly involved with the owners themselves. Ideally your community will benefit if this person has strong social interaction skills and is well liked within the community. This serves to build strong ties between unit owners and the board, insuring smooth relationships and ease of communication.

Since one of the most important responsibilities of condo management is that of a liaison between the board of directors and the owners of the units, it stands to reason that this person will be the one that the unit owners go to for general correspondence. Representing the collective group of homeowners is no small task. When there is a discrepancy or an emergency of some kind, it is the responsibility of the management to be on the front lines, resolving the issue and being the person in charge to insure that legally as well as mechanically, the homeowners have someone on their side.

Condo management also has a responsibility to supervise all employees of the property, including maintenance workers, repairmen of various kinds and contracted labor. They need to be paid, their payroll taxes need to be taken out, and the financial stability of the property itself must be tended to and secured. This person is also responsible for keeping records of all correspondence with unit owners and repair persons, and keeping an account of all funds that are spent, what they are spent on and who they are paid to. Even if the property itself is small, this can be a large task to complete.

If unit owners question the validity or feasibility of certain rules or restrictions that have been created within the community, condo management is who they will go to in order to get the ball rolling to either amend or completely do away with the rule. The manager represents the unit owners in front of the board in every instance. It is vital that they are holding the best interests of the unit owners firmly in mind.

In addition, creating the annual budget for the property is yet another one of the responsibilities that condo management may be required to take on. It takes a great deal of energy, time and work to keep an entire condominium community running smoothly and operating sufficiently at all levels. Consideration must be given to financial responsibilities, maintenance responsibilities, emergency actions and unit owner/board relations.

Finding someone with a strong, genuine work ethic who understands this type of responsibility can be challenging. Seek out bids from many different candidates, and take your time making the decision. Award this type of responsibility only after a thorough background search and many interviews have been conducted. Finding the right person for the job is more important than filling an empty seat. The unit owners will surely agree.

Source : http://www.propertymanagementblog.com/

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