Six Traits Of Great Property Managers

Properly conducting an association requires coordinating many different moving parts. Management dates back to ancient civilizations and was a key aspect of successful growth during the Industrial Revolution, but it was until the early 20th century that Henri Fayol developed “administrative management”, a concept that focuses on efficient organizational structures and the coordination of activities. Fayol’s principles of management—including planning, organizing, commanding, coordinating, and controlling—remain relevant today.

Now that the digital age is here, having the right tools (like ONR’s multifunctional app and platform) is essential to your association; our features will help you keep logistics organized, save time and costs, and measure your performance. Being a condo association manager is a challenging and rewarding role that requires ensuring that the resident’s needs and concerns are addressed promptly, always striving to exceed residents’ expectations, and improving the quality of life in the community—and we’re here to help.

What makes a good association manager? Here we explore six essential skills:

Leadership 

The manager must be able to lead by example, making informed decisions that inspire residents and other stakeholders to work towards bettering the property and overall living experience. The manager should understand the association inside out and make difficult decisions confidently. In the words of management guru Peter Drucker, “Leadership is lifting a person’s vision to higher sights, the raising of a person’s performance to a higher standard, the building of a personality beyond its normal limitations.”

Interpersonal and Negotiation Skills

Keeping an ear on the ground to provide clear and concise solutions. As a manager, you will interact with staff, board members, residents, and vendors, several times a day. Good interpersonal skills are also important for managing conflict and maintaining positive relationships with residents. This requires having good negotiation skills too—and we’re not just talking about a hardcore shark mentality. Empathy, resourcefulness, and a problem-solving mindset are important traits to have when dealing with hundreds of requests daily and to sign deals that benefit the community. 

Financial and Legal Management

Maintaining healthy finances is essential to sustaining a good operation. Talented managers should be skillful in Excel/Sheets and understand budget allocations to ensure that the property’s expenses are controlled while identifying potential financial risks. Equally, it’s crucial to have a good understanding of the laws and regulations that govern condominiums. The manager must be familiar with the state and local laws that apply to the property and ensure that the property complies, handling any legal disputes that may arise.

Maintenance Experience

These days, being a manager is more than a desk job, and having a solid understanding of building maintenance and repair can set you apart from the competition. The manager must be able to identify potential structural issues, prioritize them, and take appropriate action to address them. The manager should also be able to oversee vendors and contractors and ensure that their work meets the required standards.

Record Keeping and Documentation

Being organized is often undervalued, but in an association, it could mean the difference between accountability and disaster. Managers must be able to maintain accurate and up-to-date records of the property’s finances, contracts, and maintenance activities, sharing reports with the board of directors in a concise and traceable way.

Luxury Hospitality Expertise

These days, having a hospitality-driven approach to service will set you apart from the competition. Looking to surpass the resident’s expectations by acting proactively to solve problems is a sure means to guarantee the highest standards of luxury—essential to the 21st-century community’s well-being.

Some people are born with these skills while others develop them over time; what’s important is that managers have the capacity to be flexible, creative, cordial, and have a solutions-first mindset that puts the collective interest first. 

In the digital age, it also means counting on technology to support our work—for managers, ONR is the best tool in the market, and the difference between running a flourishing association versus one stuck in the past. 

With features that include online voting, amenity reservation, cashless payments, and live community feeds, our app will take you on a quantum leap from obsolete administration to 21st-century efficiency. 

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