What is condominium management – is it property management?
| September 15, 2015
The Alberta government recently tasked RECA with licensing and regulating Alberta condominium managers. In order to get it right, RECA is working in partnership with the condominium manager industry and other stakeholders, including condominium owners. We want current condominium managers and stakeholders to provide insight into the condominium management industry and to help us plan the regulatory structure for the future.
Industry professionals might be asking isn’t condominium management the same as property management?
This is a common misconception. No, they are not the same.
Condominium management involves exercising condominium corporation powers or performing condominium corporation duties for a condominium corporation, including collecting condominium fees or levies, enforcing condominium bylaws or rules, entering into contracts and supervising contractors for a condominium corporation.
Property management involves advertising, negotiating, leasing or renting real estate for an owner, collecting rent money and holding that money for an owner.
In other words, property management is about managing rental property for owners; condominium management is about carrying out condominium corporation responsibilities for a condominium corporation run by a board of directors.
If you want to take part in RECA’s condominium manager consultation process, read the Condominium Management Regulation Consultation Paper and email your thoughts to email@example.com. You can also attend one of the 9 town hall meetings RECA will be hosting across the province this Fall. See dates and locations, and more information on the consultation process.