No matter what the size of their portfolio, a property manager must wear a great many professional hats: human resources pro, administrator, mediator, organizer, social director, project manager, sounding board—sometimes even therapist.…
Budgeting is never easy, not for a family of four and certainly not for a co-op or condo community of hundreds. That fact is made all the more difficult by the lingering effects of the recession, which continues to wreak havoc with our …
Remember Stanley Roper from the 1970’s sitcom Three’s Company? To some, he might still be their idea of a property manager—the upstairs landlord or the guy you’d call when your plumbing’s on the fritz. And indeed, when the plumbing in you…
In a competitive industry, management companies must continuously find ways to retain current clients while honing an edge that makes them appealing to new customers. This is especially true in these tough economic times, as many indiv…
Building boards and their managing agents function best when they work together as a team. Ideally, the two parties collaborate to implement policy, carry out administrative duties, and make decisions about the efficient operation of th…
As anybody who’s ever been to an “all you can eat” sushi buffet can tell you, bigger isn’t always better, and if “more” is mediocre, sometimes you’d rather have less. The same applies when it comes to property management companies. Manag…
No matter what the job—be it flipping burgers at a chain restaurant or running a multinational investment firm—employees should be given periodic reviews of their performance to assess how they’re doing and identify both their strengths …
In Florida and the District of Columbia, among other states, property managers are required to be licensed in order to do business. As of now, managers in New Jersey have no such requirement; however, the topic does generate great debate…
After almost a decade of explosive housing activity thanks to home loans requiring only ten, five or zero percent down, just about the entire country was faced with financial setbacks in the housing market. Subprime mortgage loans shot u…
In today's litigious society, it seems like almost anybody can be sued for almost anything. Co-ops and condos are no different. And no matter what side of the legal battle you're on, knowing the role of your community's manager is vital …