To an outsider, being a condo manager might seem like a cushy job – however, anyone who’s actually been a condo manager knows that it’s anything but. Being a condo manager means constantly having more problems on your plate than you can easily deal with, as well as being on call 24/7 in case of emergency.
A good piece of condo management software can lighten the burden somewhat, but only for managers who know how to properly differentiate between their different responsibilities. From our own time working alongside property managers, these are the most important functions to focus on.
The Three Most Important Functions A Condo Manager Performs
1 – Operations Management
The first and biggest challenge facing condo managers is overseeing the day-to-day operation of their condo. This means ensuring the utilities continue to function, mechanical elements are properly serviced, the trash is taken out, and more. A property manager may not be taking a hands-on approach to all these, but they must be informed at all times and able to track the work being done by various employees and contractors.
Without reliable oversight, daily operations can easily fall into disarray – leading to angry residents and maybe even loss of property value.
2 – Financial Controller
A condo manager is also going to be one of the most important figures in financial planning, although they may also delegate this partially to a dedicated accountant. Still, they -along with the condo board- will be largely responsible for planning a budget, as well as ensuring the condo stays within that budget while also keeping money aside in case of emergency.
3 – Dispute Mediator
With a condo comes drama. Disputes will definitely arise between the residents, the managers, and the condo board. The condo manager is the one who will be right in the middle of these disputes, and the one most sides will look to for diplomatic support. Often, what truly distinguishes a great condo manager from all the rest is their ability to resolve minor disputes while minimizing the drama.
Asyst6: Condo Management Software That Understands Management
The team at Asyst comes from the property industry, with both management and accounting experience on-staff. That allowed us to create a condo management software package that is fine-tuned for the needs of actual condo managers. Our specialty software can streamline every element of your day!Posted by Admin Asyst Posted on 26 Jun