condominium
owners
Timely ideas, insight, inspiration and information of particular interest to condominium owners
James O’Hara CEO of JGO Solutions Inc.
Part 2 of a 2 Part Series
The Fundamentals of Condo Living An Outline of the Respective Responsibilities and the Importance of Communications and Teamwork Between Boards And Property Manangers Overview Building upon last issue’s Fundamentals of Condo Living article, this second and final article in the series is written to cover the topics of board governance, the role of property management, and to outline their respective responsibilities while stating the importance of communications and teamwork required to deliver the best experience for condominium owners and residents alike.
Generally speaking, the property management company fulfills two critical roles in condominiums’ successful operations and management needs. The first of which enables them to deliver the expertise required to successfully execute the day-to-day operational requirements of condominiums. The second, and less obvious, role the property management company and property manager play, is in the provision of real-time and ongoing guidance on the fiduciary, regulatory,
legal and safety requirements to condominium boards - the importance of this is impossible to overstate. A reputable and capable property management company delivering these services and guidance through an experienced Property Manager is any condominium board’s most important partner. What are the property management responsibilities? While the particular contracted services
will vary from condominium to condominium, as an agent of the board, the property management company is the execution arm of the board. It is primarily responsible for the day-to-day operational management of the property as defined in the contract and specified by the board. It works closely with the board as an advisor but acts at the sole direction of the board and is not technically a member of the board. Their licensed property manager is an onsite point representative of the property CONDOVOICE SUMMER 2022
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ILLUSTRATION BY JASON SCHNEIDER
What is a condominium property management company? A condominium property management company is an Ontario licensed provider of management services and is defined under the provincial Condominium Management Services Act, 2015. Condominium property management companies understand the Condominium Act inside out and manage multiple properties, giving them deep knowledge and experience.
