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Condo Associations: Property Management 101

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A homeowner may provide his or her own condo association property management, but property management is not limited to the duties of house cleaning, lawn care and landscaping, building maintenance, trash and waste disposal and interior upkeep. Property management can be all of these, and can be hired out to a professional that can provide better property management services than the homeowner can or would provide themselves. These property management services come with a price and if the homeowner is willing to pay for outside property management, the sky is the limit on what they can have managed. Some property management companies even manage home owners associations (HOAs). In this instance the property management company is the middle person between the homeowners and the land developer. Once the developer has completed his contracted tasks, the neighborhood is then turned over to the HOA. Condo fees or condo rules will be applied to help the HOA. A landlord may also provide property management services himself or have it hired out to a property management company. A large company or corporation might have internal structures in place to provide property management on site or they may choose to hire an outside property management company to provide the property management services that they would need on a day to day basis. Both of these operations are a reasonable and effective way to tackle the issue of property management on a large scale.

With the world of technology growing everyday, it makes perfect sense to have applicable property management software and property management computer systems that deal with property management in place to help with property management or facility management. You can have your home wired and programmed to turn the lights on and off when entering a room. Constant temperature and humidity levels can be monitored along with major appliance functions. Watering of lawns and security systems has become high tech and available to the everyday homeowner who wants property management. Some passenger vehicles now include a “remote” that when programmed can turn the lights on, turn the TV on your favorite station and more, all from the comforts of your car. Heaven forbid you will have to walk into your dark and quite home. Home builders, architects and engineers saw the potential for using large scale property management ideas in the home. Beyond the home, large commercial properties, computer aided facility management (CAFM) has been a natural progression of the marriage between technology and facility/ property management. In the late 1980’s CAFM evolved to allow larger properties to manage their property management sites more efficiently. Most often, CAFM systems track and maintain; floor plans, LAN and telecom information, business continuity and safety information, workplace assets, employee and occupancy data, building and property information and space characteristics and usage. Being able to supervise the goings on of your with a property management company in an efficient and well structured way will help your property management bottom line.

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