The Property Manager manages the day-to-day operations of a Condominium Corporation, such as:
- collection of common element fees, parking rentals and other receivables;
- maintenance of account receivable records and collection of overdue receivables;
- authorization of maintenance and receipt of services to maintain the Common Elements including preventative maintenance and engineering services if required;
- payment of invoices;
- safeguarding the cash assets of the Corporation;
- recruitment, training and supervision personnel to provide for the day-to-day maintenance (if applicable);
- obtaining insurance for the Corporation;
- keeping the records of the Corporation including meeting minutes, corporate registers, accounting and maintenance records, etc.; and
- the preparation of notices, proxies, and agendas for the Annual General Meeting, any Special General Meeting and Board Meetings, assisting in the meeting, as required, and keeping minutes.
The responsibilities of the Property Manager are established by the management contract. As in any service industry, there is a correlation between the number and types of services which are included in a contract and the contract price.
The Condominium Property Manager does not usually become involved with maintenance or repair duties in connection with individual units which are set out in the Declaration to be the unit.
