The work of a property manager encompasses all things related to the building, from collection of association fees and building maintenance, to landscaping and security. When a property management company does its job well, many of these activities happen behind the scenes with residents completely unaware. Here are four things that property managers do behind the scenes that many residents are likely unaware of:
- We continually evaluate building security. Being in charge of a building where dozens or even hundreds reside is no joke, and we take building security very seriously.
- We plan maintenance years in advance. That’s right — this can get kind of boring, but we know when your building’s exterior will get updated by masons or when the HVAC system will be overhauled, sometimes years in advance.
- We negotiate favorable rates with contractors. The amount of work we generate enables us to negotiate favorable rates with contractors, such as snow removal, landscaping, exterminating, janitorial and other services.
- We stay on top of the latest building codes. For example, the City of Chicago recently overhauled its building code. We had to evaluate which buildings are in compliance, which ones needed updates, and which ones were old enough to be grandfathered under the old rules.
All of the above are probably things you as the owner of a condo would prefer not to have to think about. Even condo boards find it challenging to deal with the above, and this is exactly a part of the value a property management company offers with its expertise—solving problems before they happen.