The role of the Management Company is to administer your Condominium Corporation, in accordance with the Alberta Condominium Act and Amendments. In summary, if Owners have any condominium problems, concerns, suggestions, inquiries or questions, they should contact the Management Company.
Is a property manager necessary?
You should consider hiring a property management company if: You have lots of properties or rental units. The more rental properties you own and the more units they contain, the more you’re likely to benefit from a management company. You don’t live near your rental property.
What is the role of a management company?
A Management Company is a party to certain leases or transfer documents. The company’s role is to be responsible for the management of the service charge and the delivery of management and maintenance services at the development.
Do you need a management company for a condo?
Choosing how to manage a condo is a big decision, whether using a management company or taking the self-managed route. It’s an investment that shouldn’t be taken lightly. Do your due diligence on the property management company you want to hire. Make sure they have enough staff to manage your units effectively and efficiently.
Why do you need a property management company?
Property management companies are hired by the Boards of condominium corporations as an agent of the Board, to assist with fulfilling its responsibilities to manage the building and ensure the condo tenants’ needs are met.
Can a condo company work with a homeowner association?
working with a condo’s homeowner association, if there is one. In some instances, the property management company may delegate certain responsibilities to the property manager, such as the hiring of service contractors and suppliers, collecting monthly condo fees, and creating an operational budget.
What are the challenges of managing a condo?
Condo property management has several unique challenges. Even though it is similar to other kinds of property management, such as apartments or single-family homes, there are a few things you’ll want to manage differently. Here are a few examples.
