December 2024
Most successful condominium managers don’t start out in ‘the business.’ They begin in other fields that provide an underlying skillset. At some point they become interested in condominium management and learn from industry veterans.
Business education programs began in 1904 at Harvard University in Boston. The initial focus was on quantitative analysis as the best way to improve profitability. This approach was found to be successful at managing business operations to ensure they remain strong, vibrant and relevant. Discipline provided by these programs was effective at achieving the goals and purposes of all types of businesses. There are now more than 350 accredited MBA programs in the United States. In Canada, most universities offer an MBA program with academic and theoretical training. There are specialties such as accounting and finance.
Condominium management education programs have embraced this approach to providing a basic understanding in management, condo living and regulations. Yet academic studies only go so far. Learning from experience is essential to success.
Each condominium community is unique. There is a basic approach, skillset and best practices which serve as a starting point and can be taught in the classroom or obtained through experience. Effective management requires knowing and working within a community’s strengths, challenges and idiosyncrasies.
Training is essential. Every condominium manager needs to learn what the board and residents are looking for. They need to understand the tools at their disposal; building systems, accounting system, office software and availability of records.
The best approach to on-the-job training is to assign an experienced manager as a mentor to provide support and guidance during a new manager’s first months. Good management companies will establish best practices with protocols a new manager should follow, and templates for typical communications and client reporting.
The Ideal Condominium Manager
The hospitality and customer service industries provide good entry-level condominium managers. They have the necessary skill of knowing how to deal with people. There is a good way to talk and deal with people that is not learned in school. Those who have studied psychology do well. They understand how to communicate with people, keep them informed and ensure personal issues are handled correctly. Any lack of structure and mechanical knowledge can be learned. A mechanical aptitude is desirable but engineering skills are unnecessary.
The ideal condominium manager offers effective communication techniques, financial acumen, and an understanding of mechanical systems. Project management and strong organizational skills are desirable. These skills can easily be adapted to the field of condominium management. A condo board able to find an individual with these basic skills and is willing to invest time for training will have success in finding the right individual for managing their community.
