Recently, the idea of “home” has evolved to be a place where people live, work, relax, and have fun. Residential communities have become more attractive as they offer convenient services and shared amenities that promote community spirit and bring this modern concept of “home” to life.
Managing these communities has become more complex over time, leading our industry to adapt and better meet the needs of our customers.
Going beyond rule enforcement
Council/board members in residential communities play a crucial role in making decisions that enhance property values and support resident well-being. However, as volunteers, they often lack the time and expertise needed for community management.
Modern property management companies offer diverse teams with skills in hospitality, technology, insurance, finance, operations, sustainability, training, and compliance with regulations at various levels of government.
Expert advice on insurance
Property insurance is a key factor for condominium corporations and stratas. Council/board members require expert advice to secure the necessary coverage.
Property management companies provide teams of insurance professionals to consult council/board members and secure improved coverage, especially in changing insurance markets.
EV charging solutions
Electric vehicle charging is becoming essential in communities. Property management companies need to offer guidance and support to update infrastructure to provide this amenity in a sustainable and cost-effective manner.
Guidance on energy savings and regulations compliance
Properties require expert guidance on energy savings and compliance with regulations. Local incentives and funding for capital projects can be leveraged with the right expertise.
Technology plays a vital role in property management, enhancing resident experience and saving time. Custom technology solutions are necessary for each community’s unique needs, from security to billing management.
Investing in education for success
Property management companies must invest in education programs for council/board members to develop their skills for success in their roles. Webinars, training, and continuing education help members navigate change and make informed decisions.
Building a diverse team of experts
Property managers need a varied team of experts to provide comprehensive solutions to council/board members, ensuring decisions that benefit residents.
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