Condo Management Functions
Condo Management Functions
Aside from property management, there’s also what we so-call condo management. This body is basically composed of condo owners themselves who act as administration officers to lead the entire building. They supervise finances and hire property managers, as well as ensure a round the clock security and satisfaction among owners. You can’t really expect a property manager to run the entire building all by himself. If there’s no condo association, no one’s going to hold the manager accountable for anything because nobody knows his operations in the first place. It would be hard to protect the rights of the condo owners if the management is solely governed by a single party. Besides, a property manager is not even part of the community himself. He is basically an expert from outside the community.
Apart from your own personal condo units, the building has several other facilities that have to be taken care of and maintained. This includes pools, gyms, restaurants etc. These facilities need monthly budgets and condo managers are responsible for establishing a uniform fee from owners in order to keep them operational. Budget proposals are brought up during meetings, and once a consensus is met, collection will commence. Aside from maintenance and repair expenses, budget for improvements is also extracted from the amount. All these processes are filtered by the condo units to make sure that the budget goes for its purpose, and that money is being spent prudently. The contributions are hard-earned money after all.
Moreover, condo management should be willing to listen to the members, as well as take their suggestions into consideration for the betterment of the community. Propositions can either be brought up during meetings, or if the informant is uncomfortable, can secretly deliver his/her concerns. Bottom line: the board will always be the front liner towards a safe and harmonious co-existence of each individual in the building. The association is the embodiment of the entire community. They ensure that the rights of each condo owners are met, and that owners are given the services that they are paying for. It’s rather common for people to be given low-class service. If it’s not for condo association, the injustice would be overlooked just like that. The finances are being corrupted and no one would even know. Other than a moral right, condo association is also a responsibility, to you and to the community.
Condo management is also a watcher for anomalies. They are not going to let an outsider (aka the property manager/property management company) account the expenses and savings all by themselves. Transparency is important. The board will always get their hands on every operation on behalf of the owners. They are tasked to keep openness in every transaction, as well as ensure that residents of the building will not be kept unaware of some building operations. This is only fair considering that owners are paying money for maintenance and improvement. They should know where their money is being spent on, and they have the right to complain in case they know something fishy is going on.