On any given day, a property manager has to juggle an abundance of responsibilities for buildings under their supervision. While services can differ from one project manager to the next or from one property to the next, there are 10 essential accountabilities that are part of the building management game.
Centralize Communication
As a representative and common touchpoint for condo residents, building staff and everyone in between, property managers act as a centralized communication channel for the community. Whether intaking feedback or announcing important information, it’s important for property managers to streamline communication in a clear and effective manner.
Supervise Performance
Condo property managers are responsible for managing regular inspections, monitoring the daily performance of their staff and maintaining resident satisfaction rates.
Manage Budgets
One of the most essential responsibilities of a property manager is to manage the building’s budget and maintain all important financial records. Operating within a set budget, they must also take unplanned costs into consideration, such as repairs and ad hoc requests. An accounting software is a helpful tool for property managers to keep track of building related income and expenses.
Manage and Handle Conflicts
Although difficult, one of the most common tasks for property managers is managing conflicts. Whether dealing with resident complaints or mediating between neighbours, property managers should know how to resolve any disruptions.
Respond to Requests
One of the major (and most time consuming) tasks handled by property managers is ensuring that resident requests are handled promptly. Everything from quarrels to repairs need to be mediated by the property manager to ensure that residents or the HOA (Home Owners Association) are respected and supported with open communication.
Maintain Properties
Another ongoing challenge often faced by property management is the maintenance and repair of their various properties. They must find solutions to issues and ensure that equipment and facilities are functioning properly and up to code in partnership with the appropriate service providers.
Set up Security
In many cases, property managers are required to contract out security guards or set up security devices within and around certain properties like upscale condo buildings or warehouses; as well as, create procedures and protocols to follow in emergency type situations.
Manage Employees
Ensuring that employees like janitors, security, and concierge personnel are performing their jobs diligently and fostering positive interactions with the tenants they come into contact with.
Work with the Condo’s Homeowner Association
In some cases, condo buildings will have an assigned homeowner association (HOA), made up of member residents. Property managers should work cohesively with the HOA to ensure that the property’s needs and goals are met.
Comply with the Law
A property manager must always be aware of current laws and ensure they are in compliance with any developments, from insurance protocols to maintaining file records and more.
With a seemingly endless amount of day-to-day tasks, project managers are often faced with operational inefficiencies. Usewalter is a centralized platform that streamlines all management tools with features that enable scalability, time savings and efficiency. Property managers can chat directly with residents, assign tasks to employees, manage and share financial documents, and post relative information to specific groups of residents all within the user-friendly app.
Managing several properties at once can be challenging, but not when you have the tools that make it easy so you can focus on delivering an enhanced experience to your residents and teams. For more information about how Usewalter can improve your day-to-day operation, book a demo.
