Best Condo Property Management Company in Toronto
Updated: Apr 3
Tips for how to find the best property manager for your condo building in Toronto or the GTA.
There seem to be endless possibilities when trying to find the best property management companies in Toronto, Scarborough, Brampton, Mississauga, Vaughan, Newmarket, Richmond hill, Thornhill, Aurora, Oshawa, Pickering , Ajax, Port Hope, London. Follow our guide to find the best condo property management companies in Toronto.
This article will provide you with tips and tricks for finding the best Toronto property management companies.
An effective condo property manager will know how to keep your condominium communities and residents happy. Here are some key factors to ask when looking for a new condo property management company:
How will the property manager save the condo association money?
How will the property manager respond to the communities needs?
Can the property manager fulfill the full scope of work required from the Board of Directors for a condo corporation?
It takes a balancing act to be effectively able to manage all of the needs of a condo corporation.
Board of Directors look for property management companies that can manage these problems in the most cost effective way.
One of the most important things to look for when hiring a new property management company is that the proper licensing is in place for the property manager. In Ontario, all condo property managers require specific licensing. To learn more about these licensing requirements click here. All Stronghold Managment property managers hold a license with the CMRAO and participate in continued education on a yearly basis. It is essential that you find a property manager who has this licensing to ensure that they stay up to date on legislation changes.
At Stronghold Management Group we have over 30 years of experience in condo property management, with three decades of experience we have learned a few tips and tricks for managing any situation that comes a property managers way while achieving
the condo corporations budget goals and maintaining resident satisfaction.
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What education should a Condo Property Manager Have?
Condominium property management companies in Toronto can be hard to find. Condo property managers in Toronto are required to hold a license. There are certain educational requirements that must be met in order to obtain this licensing.
When searching for condominium property management companies in Toronto it is important to ensure that the property management company has the proper licenses.
One resource you can use to find the certain credentials needed for a condo property manager in Toronto is the Canadian Condominium Institute. Click here for more information.
What Should a Condo Property Management Company in Toronto Do?
A condo property management company will wear many hats. They will be responsible for not only managing the physical condominium and being proactive about this maintenance. The CMRAO lists other common responsibilities of a condo manager as the following;
collecting common expense fees
maintaining records for the condominium corporation
responding to condominium unit owner complaints
ensuring maintenance and repair of the property
hiring and monitoring service companies, and overseeing staff and contractors
preparing draft annual budgets and overseeing the reserve fund
implementing an emergency management plan and responding to emergencies
preparing status certificates
issuing meeting notices and reporting on the affairs of the corporation
organizing board meetings and overseeing administration of all owners' meetings
monitoring the corporation’s insurance
preparing financial reports and arranging for audits
advising the board of directors on compliance with the Condominium Act, 1998
advise the board members on its financial responsibilities (e.g., contributions to the reserve fund, long-term reserve fund planning)
For more information on the role of a condominium manager please refer here
For specific questions on condo property management in Toronto or the GTA email firstname.lastname@example.org
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