Property Management – what is it anyways? [+Infographic]

Step right up, don't be shy. We get asked this all the time. What is property management?

• Do you manage my house rental when I go on vacation? Nope.
• Do you live in my building? No.
• Do you rent out properties? Non.
• Do you sell properties? Nada.

With that cleared up, let's focus on what we DO, do!

So what DOES a Tribe property manager do?

The answer to that question is OODLES! Property managers look after a specialized living environment involving a lot of different people. (No, no, not a commune. We think that would get a bit tricky.) Here at Tribe, we actually refer to our property or strata managers as Community Managers. We think it better reflects our people-forward approach.

Our community managers work on behalf of a group of owners, to protect their collective investment (ie. an entire housing corporation or strata building), which is made up of a bunch of individually-owned units.

The nitty-gritty of property management

Ok, so you get the big picture. Now let's get into the fine print. What do our community managers do on a daily? We've broken it down into a few themes for you.

Property/building maintenance

• Maintain common areas inside and out, including amenity rooms, pools, theatres and more.
• Elevator maintenance.

Building management

• Ensure the owner's representatives (Strata Council) meet regularly to discuss building management.

Administration

• Deal with building correspondence.
• Communicate with owners and residents about notices of meetings, minutes, and more.

Financials

• Preparing budgets.
• Taking care of invoices.
• Collecting fees.
• Arranging proper and competitive insurance.

Community

• Enforce rules around the common property.
• Mediate disputes between owners.
• Amend bylaws for the good of the community.

More about Community Management

Like what you've read? We're always happy to connect and tell you more about what we do.