There is a common perception that property management and condominium management are the same thing. However, they are actually quite different. Below, is a high level summary of what is involved in both property management and condominium management.
Property management involves the administration of rental properties on behalf of their owners. Property management duties include:
Advertising properties available for rent
Selecting tenants and negotiating rental or lease agreements with them
Dealing with issues involving the property
Condominium management involves performing duties for a condominium complex on behalf of all the owners in the complex (collectively referred to as a condominium corporation). Management and administration of the complex is outlined in the condominium bylaws. Condominium management duties include:
Enforcing condominium rules and bylaws
Collecting condominium fees or levies
Dealing with the common areas of the property (i.e. parking lot, lobby, gym)
Selecting, and negotiating with, contractors for things like snow removal or yard maintenance, as well as any specific maintenance issues (i.e. a broken elevator)
In summary, while there are some similarities between property management and condominium management, such as collecting the applicable fees, they are different with different duties and responsibilities. Property management involves the administration of rental properties for their owners, while condominium management involves the management and administration of a condominium complex.
Attainable Homes Calgary Corporation (AHCC) is a nonprofit social enterprise and wholly owned subsidiary of The City of Calgary that delivers well-appointed, entry-level homes for Calgarians who have been caught in the city’s growing housing affordability gap.
Through our Attainable Home Ownership Program, we connect builders, developers, lenders, lawyers and others to bring down the upfront costs of ownership so qualifying Calgarians can buy their very own home with a $2,000 down payment. Furthermore, when you decide to buy an attainable home, you're also choosing to pay it forward to help another family in the future. When you eventually decide to refinance or sell your home on the market, a share of the appreciation goes back into the program to fund more developments that will help even more people get a foot on the property ladder.
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