Management

Common Condo Management Issues

 

Condo management can be a difficult job. It involves negotiating the needs of property owners, making sure all the communal areas are clean, collecting condo association fees, and keeping track of finances. The condo management team is responsible for dealing with the overall maintenance of the condo building as well as any day-to-day issues that may arise. Here are some of the most common problems that a condo management team will encounter.

Neighbour Disputes

Most condo owners have a strong neighbourly relationship with the other people who live in their building. However, living in close proximity to other people means that there is a chance that conflicts between neighbours may arise. If you have an issue with another condo resident, your property manager can help. If you’re experiencing issues with a noisy neighbour, for instance, your property manager will be able to sort out any dispute to find a resolution that is fair for everyone. It’s important that every condo resident be respectful to the other occupants, who may include families or people with hectic work schedules. A property manager will be able to mediate any conflict so everyone in the condo can live comfortably.

Common Area Issues

The property manager is also responsible for the upkeep on the condo’s communal areas, which includes the lobby, elevator, parking garage, and any courtyards, gyms or event spaces in the building. The common areas can become littered with garbage if residents aren’t properly disposing of their trash. Property managers ensure that residents are putting their garbage in the designated area and not throwing debris like cigarette butts over the sides of their balconies. If there’s an issue with the cleanliness in the communal spaces of your condo, contact your property manager to have the issue dealt with fast and effectively.

Managing a condo is no easy task. If you or your condo association is having trouble juggling all the responsibilities of property management, contact us at T.R.A.M.S Property Management and we’ll help get your building operating smoothly.

What Makes a Good Condo Association?

If you’ve recently purchased a condo, chances are you have been asked to join a condo association. What is a condo association exactly, and what makes it run smoothly? A condo association is a governing body that makes decisions about the operation of a condominium building. All condominium owners within a building are members of that building’s condo association.

CC&Rs

The main role of a condo association is to make sure that all of its members are complying with the contractual obligations they agreed to follow when they bought their condo. These contractual obligations are known as covenants, conditions and restrictions (CC&Rs).

CC&Rs can include regulations about things such as pet ownership, parking spaces, and how the communal space of the building is to be treated. Local policies and bylaws dictate what kinds of things can be included in the CC&Rs.

Property Management

Condo associations are also responsible for the physical and financial upkeep of a property, including:

  • Rent and condo fee collection.
  • Hiring and maintaining employees for grounds keeping and janitorial work.
  • Dealing with electrical and plumbing issues.

How T.R.A.M.S Can Help

Juggling all of these issues at once can be overwhelming. That’s why many condo associations opt to delegate these tasks to a property manager, who can oversee the day-to-day maintenance of the building, as well as manage financial and logistical issues.

As an experienced property manager should, we will maintain a close relationship with the board of directors of a condo association. This open line of communication is the key to smooth and successful property management.

If your condo association is looking to work with a property manager, contact us at T.R.A.M.S Property Management. We have a team of experienced, highly trained professionals who can take care of all the practical details of property ownership so you can focus on what’s important to you.

What Makes a Great Property Management Company?

The best property management company goes beyond the standard service you might expect. It is concerned with helping your community and building toward a successful future. Below are some key aspects that make a great property management company stand out from the rest.

Strong Communication Skills & Leadership

Who your manager is and how their team supports them is crucial in ensuring strong leadership and effective communication skills. To this end, a team of experts across various fields including Engineering, Training Support, Human Resources and Accounting will help provide advice from all angles.

Having effective communication tools put into place make it easy to contact your company. A 24/7 call center or other means of technological communication will add a professional quality to your company as you can address the needs of clients as soon as they come up.

Solid and Transparent Standard Operating Procedures

Proven operating procedures are the next thing investors should be looking at. What properties have you worked on or which communities have you served? Was effective preventive maintenance programs (PM) put into place? Were audits of all contracts and vendors complete?

Transparency is key, and having a transparent financial budget and system of handling finances and solutions can really increase the value of your property. If your credibility and reputation is high, this makes the standard of living for your residents high as well.

Effective Financial Planning

A strong network of certified accountants is important for the health and prosperity of your property management company. Reviews should be carried out internally on a regular basis to ensure that the work is being done to its finest quality.

Solid Partner-Relations

Having solid and long-term partner-relations with vendors ensures that savings and discounts will be present on large purchases. Lower rates on regular maintenance, for instance, help to ensure that the building will be properly maintained.

Accountability & Sustainability

Continually improving and keeping an open mind ensures the potential for growth in the industry. It’s really important to make sure that you don’t rest on your achievements as a company.

Finding sustainable “green” initiatives is also a significant component of a great property management company. Having accredited LEED professionals on your team shows your expertise and commitment to green building.

Good Training Practices

Commitment to good training practices means exceptional customer service from your team. A unified, strong and trained property management company will provide continual education and development programs for their managers. Hands-on-training, etiquette, and online learning platforms are examples of learning that can enhance the knowledge of new trainees. This shows that your company leads in product knowledge of the industry and is equipped to deliver the finest level of service.

At T.R.A.M.S. Management, we offer all this and more to the communities we work in. Take a look at our property management work here.

 

 

Why Should You Hire a Management Company?

In the fast-paced world of real estate management, it can be difficult to take care of everything. From getting the right contractor to do a good job, to making sure all co-owners feel at home in their building, to the condo building that needs more promotion to reach maximum capacity, you are stretched. It’s hard to know what to focus on when you are looking at the micro and macro aspects of everything.

At T.R.A.M.S Property Management, we know how to keep everything running smoothly. When you have a team that has divided all the tasks involved, you know who is responsible for what part of the project. With your attention no longer so scattered, you can focus on truly excelling at the tasks you need to do.

How Can T.R.A.M.S Property Management Help?

We can help you with the management process from beginning to end. We are your property management experts, and we can ensure that your development project building or complex property is running smoothly from all directions.

Dividing the Work

At T.R.A.M.S Property Management we believe that everyone should have a specific task, so that they can perform it to the best of their ability. We have several teams, each focused on a particular area of the management process: accounting, advertising, legal, maintenance, rentals, and sales. Because of our team division, everyone at our company can use the expertise and skills that they are best at.

As a syndicate, you know how hard it is to keep an eye on everything. With T.R.A.M.S Property Management, you get many eyes, all highly trained and focused. When you hire a management company, you can rest easy at night, knowing that nothing is being overlooked or mishandled. Call us today to find out how we can help care for your building