Property management is a complex and multifaceted task, particularly when it comes to condominiums. Condo communities require diligent oversight and proactive management to ensure the satisfaction of residents and the long-term success of the development. To streamline the property management process, it’s essential to have a comprehensive checklist in place. Here is the ultimate property management checklist for condos that covers the key areas of focus.
- Establish a clear and efficient system for handling resident inquiries, requests, and complaints.
- Maintain accurate and up-to-date resident records, including contact information, lease agreements, and emergency contacts.
- Ensure compliance with all applicable laws, regulations, and governing documents.
- Keep organized documentation of all meetings, decisions, and correspondence.
- Prepare and monitor an annual budget that includes all anticipated expenses, such as maintenance, utilities, insurance, and reserves.
- Collect dues and fees from residents promptly and keep a detailed record of financial transactions.
- Provide transparent and regular financial reports to the association board and residents.
- Oversee financial tasks, such as paying bills, managing vendor contracts, and handling insurance claims.
Maintenance and repairs:
- Develop a comprehensive maintenance plan that covers routine inspections, preventative measures, and regular repairs.
- Arrange for regular servicing and maintenance of common areas, including landscaping, elevators, swimming pools, and fitness facilities.
- Respond promptly to resident maintenance requests and ensure repairs are carried out efficiently.
- Conduct regular inspections of individual units to address any maintenance or safety concerns.
Rules and regulations enforcement:
- Communicate and enforce community rules and regulations consistently and fairly.
- Handle violations promptly and implement appropriate penalties or corrective actions as per the governing documents.
- Regularly review and update community rules and regulations to ensure they are relevant and effective.
- Provide clear and accessible information to residents regarding community policies and guidelines.
Communication and resident engagement:
- Establish clear channels of communication with residents, such as email lists, newsletters, community websites, or social media groups.
- Regularly update residents about community news, events, and important announcements.
- Organize social activities and events to foster a sense of community and encourage resident participation.
Encourage and facilitate open dialogue and feedback from residents through surveys, suggestion boxes, or resident meetings.