Streamlined Condominium Operations - Adding Value
Updated: Feb 28, 2020
There are many ways a condominium manager can add value to a condominium operation. Here are a few highlights:
Periodic Building Inspections are the best tool to stay on top of your building systems operation. As you have noticed, we called them "periodic" and for good reasons. First, most management agreements have "monthly inspections" inserted as an integral part of the manager's duties, meaning failing to conduct and produce them, can get the manager in breach of his contract with the condominium corporation. Furthermore, in the case of a catastrophic building system failure or any kind of accident, missing monthly inspections can lead to the determination of negligence on the manager's part. Second, the building inspections are a great reporting tool when attached to the management reports presented to the client. Through building inspections, the manager can draw the Board's attention to all sorts of important items related to the operation of the building. Third, building inspections can be used as a dynamic tool to share and delegate responsibilities with the operation team. Lastly, physically walking the property helps the manager to become more familiar with the property and help him/her understand certain dynamics unique to the property.
Annual Operation Planners. I know the concept seems a bit old but yet still very effective. Like Benjamin Franklin once said, "If you fail to plan, you are planning to fail". The annual operation planner helps, on one hand, to keep the manager organized year-round and on the other hand, when shared with the board and the rest of the operations team, keeps everyone working on convergent goals. The plan should not be limited to maintenance items, administrative and legal compliance items should also be included. The more detailed the plan the better. The annual operation plan can be taken one step further and can be used for building operation analytics when tested against set timeframes and operation goals.
Preventative Maintenance Programs. Given the complexity of building systems today, preventative maintenace programs are an important part of the operation. If drafted and executed correctly, these programs constitute the best way to preserve the "life" of a building system, ensure a smooth operation of the building system, within the designed parameters. When in place and managed correctly, Preventative Maintenance Programs are generating cost savings, which in the long run represents added value for the condominium corporation.
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