Relationships take work – and the one between your condo board and condo management company is no different! Just like every other connection in life, the one your board shares with your building’s management company requires a certain element of upkeep and open dialogue to keep things healthy. Otherwise, communication starts to break down, negative feelings start cropping up, and before you know it, you’re back out there looking for somebody else to come home to and share your signature nachos with while catching up on Westworld and chatting about your day – wait, what were we talking about again? Right, condos; read on to learn how to avoid a nasty break-up with your condo management company!
The first step to maintaining a healthy relationship with anyone – including your condo management company – is open communication. Oftentimes, communication between boards and management companies can grind to a halt: condo boards are left waiting on property managers for access to documents, management companies are often stuck anticipating results from condo boards on financial investigations that are slowed down by long lead times, and before you know it, dialogues break down and people start pointing fingers.
This conundrum can often be solved by the simple implementation of basic technologies and software that allow for view-only, line-by-line access of all invoices and documents, making them available to all authorized parties, avoiding any communications issues that might have otherwise cropped up.
This is a big one, particularly when it comes to financials and accounting practices. It’s always important for everyone involved to know exactly who is managing the books and what their qualifications are. The entire point of transparency is to have a system of checks and balances in place, because no matter how careful a team might be, mistakes WILL be made, and it’s going to be open transparency that allows those errors to be caught and corrected. Don’t misunderstand us – transparency isn’t meant to encourage mistake-making, but to properly handle blunders when they’re made, in order to avoid the risk that undiscovered errors might pose to your building months or even years down the line.
We touched on this one a bit when we spoke about communication earlier, but many condo buildings are still lacking any sort of a centralized database for information, documents, and financials. Taking the time to implement an accessible archive for this information is instrumental in avoiding the sorts of communication breakdowns and bad feelings that can result from waiting on someone to dig up a document that’s been lost for time immemorial and can help keep your board’s relationship with your condo management company healthy and happy for years to come!
Having problems with your condo management company? Looking for advice on how to patch things up – or on how to move on? Drop us a line at Catalyst Condo Management – we’ll be happy to help you figure out where things took a turn for the worse and what to do from here!
Drew Spencer has years of experience in Condominium Management in Calgary. He suggests that condo communities should choose experienced and accomplished management services that focus on improving efficiency and increasing cost savings. He believes that every condo association, whether small or large, should be managed by a professional company to maintain high quality standards.