Anyone looking for a professional to oversee the management of a condominium considers hiring a registered condominium manager. The ACMO established the RCM and requires professionals to undergo a rigorous educational program and a series of experience requirements. The designation identifies a professional who has dedicated their career to the profession and is part of a small group of industry experts.
Common elements in a condo association
A condominium association’s governing documents often include a section on common elements. These facilities and amenities are not included in individual units but are owned and maintained by the condominium corporation. These include pipes, electrical systems, heating and air conditioning systems, walkways, and security systems. They may also include lighting in common hallways and garbage and recycling facilities.
Common Elements
Some common elements are shared by all homeowners, while others are only used by a few. Common elements are commonly found in multi unit condominiums and townhome developments. These common areas may include a pool or a patio shared by several units. The CC&Rs will detail which homeowners may access these spaces and what their responsibilities are to maintain these facilities.
Responsibilities of a condominium property manager
A condominium property manager’s job is diverse and demands a diverse set of skills and abilities. The role includes drafting the annual association budget, collecting dues and assessments from all unit owners, and tracking financial information. This job requires a lot of social skills and a willingness to approach residents and attend community events. The manager should also be able to put aside personal opinions and be “in the know” about what the community wants.
Additional Responsibilities
Responsibilities of a condominium Property manager also include overseeing the work of contractors and maintenance crews. The manager will be responsible for ensuring that all tasks are completed according to the property owner’s wishes. Some projects will require more oversight than others, while others will require less direct involvement from the manager. Regardless, a condominium property manager is a vital asset for the community, and its owners depend on it.
Education requirements for condominium property managers
If you are interested in becoming a condominium property manager, it is necessary to earn a license and certification. You should also have relevant experience in the field. Depending on your region and industry, you can earn a lot of money as a condominium property manager.
Compensation for condominium property managers
The compensation for condominium property managers varies widely from city to city. The amount of compensation depends on the industry, location, and local conditions. In California, salaries are highest in San Francisco. However, other cities have higher compensation than the Bay Area.
The Starting Point
A career in condominium property management usually starts in an administrative position within the main office of a property management company or as a leasing agent working on-site at a contractual community. As experience and knowledge develop, many successful managers branch out to become property developers or open their management firms. If you have the desire to manage a condominium community, you can get training to become a property manager.
