As the person responsible for the management of the syndicate of co-owners’ real estate assets, the condo manager plays a strategic role; his competence level can make the difference especially if the board of directors knows next to nothing in such matters. The functioning of a co-ownership (condominium) as well as the stewardship of the immovable require a certain level of knowledge. In addition, a condo manager must demonstrate professional interpersonal skills, that is to say to be a good communicator, to act with rigor and organization, to demonstrate diplomacy and to have a sense of negotiation.
Skills and abilities
To carry out his duties properly, the manager must be competent in the field of administrative, legal, technical and financial co-ownership management since this requires analytical and organizational skills, being a responsible person as well as having a talent for negotiating.
The protection of the interest of the co-owners must be the top priority of the manager; to accomplish his mission successfully, he must:
Inadequate legislative framework
Currently, anyone wanting to act as a co-ownership manager can use this title without being accountable to a governing body or agency which can cause serious risks that can undermine the protection of the public. The manager's work requires great rigor and the mastery of a vast range of knowledge; whoever improvises in being a condo manager can cause severe harm to a co-owners’ community because he can be the cause of the deterioration of personal relations between co-owners or of the state of repairs of the immovable or he could also neglect to have the immovable insured for its full reconstruction cost.
From competence to professionalism
Currently, condo managers can choose their own training level; as they are not required to be part of a professional order, apart from the syndicates themselves who have a vested interest in supervising them, nobody controls their operation. However, training courses are offered by non-profit organizations such as the Quebec managers and co-owners Association (Regroupement des gestionnaires et copropriétaires du Québec) (RGCQ) intended for managers and their employees; ideally, these courses should be a prerequisite to holding a license for anyone involved in co-ownership management.
WHAT YOU SHOULD KNOW! The choice of a manager is crucial to the proper operation of the syndicate.
WHAT TO KEEP IN MIND: The Quebec managers and co-owners Association (Regroupement des gestionnaires et copropriétaires du Québec) (RGCQ) is a partner in the continuous education training program in co-ownership management set up in 2016 at the École des sciences de la gestion de l’Université du Québec à Montréal (ESG-UQAM); this program is intended for managers wishing to acquire in depth knowledge in the field.
WARNING! Some co-ownership managers are in charge of real estate assets worth tens of millions of dollars and so, they must have the required competencies to manage these large co-ownerships.