April 2024
Hiring a good condominium manager or management company is hard.
A good condominium manager will do more than deal with issues as they arise. They can prevent problems from happening and provide experience your corporation would otherwise pay for in other ways.
Higher than expected management fees, delayed repairs, high costs for the most basic of repairs, constantly missing or late for meetings, and limited knowledge on dealing with regularly occurring issues are signs that your manager or company is lacking in experience. This may explain why they charge less than others for their services.
The number of condominium buildings in the region has resulted in a shortage of condominium managers despite their growing numbers. Higher standards are unlikely so long as this shortage exists. Condo boards are starved for good condominium managers and can become desperate in their search.
All condominium managers and companies providing condominium management services to residential buildings in Ontario are required to be licensed. Licensure is the lowest level of competency in the profession. Finding a good condominium manager or management company requires you to look beyond the basic requirement of a license.
Look for other credentials and experience.
A condo board wanting a great condominium manager should look for a company and manager with additional credentials. This would include a higher level of education, more experience in the field or in business, and specialized industry certifications. Various groups provide educational programs and credentials for the industry including Association of Condominium Managers of Ontario (ACMO), Canadian Condominium Institute (CCI) and Community Associations Institute (CAI). The best managers and management companies obtain these credentials as a way to stand out among the crowd.
When looking for a condominium manager or management company, the best and most practical thing a condo board can do is ask around. Ask those being considered for references from their current or recent clients or employer. Then call these individuals for a reference before making a final decision.
Once that ideal condominium manager or management company has been found, they will likely charge more for their services. This premium is worth paying for their experience and good judgement.
