Condo Media - February 2020 - 37
Having a proactive open line of communication is key to determining what
can be one of the largest costs that the
association incurs.
Given the topics outlined so far, it
is obvious to see the value of hiring
a qualified property manager. The
experience they bring to the table
is invaluable. The coordination of
board meetings and streamline communication with the board makes the
job of the insurance agent easier by
maintaining a more organized communication regarding renewals, claims,
and budgeting, to name a few. Aside
from these qualities, if there is an issue
with the quality of service or coverage
review with the insurance agent, the
property manager will know a handful
of agents that specialize in the coverage
for condominium associations. They
have likely worked with these agents on
other associations, seen them speak at
events, or discussed insurance issues at
a networking event. The network they
have established can be an important
asset to the associations that they serve.
I am often asked when an association should consider hiring a property
manager. Some feel that the number
of units or overall size of the association should be the determining factor,
however, I feel this answer is too
simplistic. I work with associations
as small as two units who have hired
a property manager.
"Hiring a professional management
company with highly trained property
managers is the best investment a
board can make for the short- and
long-term planning needs of a condo
association," says Katie Wells, director
of property management, Mediate
Management Company.
The property manager assists them
in determining a budget, handling
maintenance issues, unit owner conflict resolution, communication with
business partners, collection of fees,
and ensuring that board meetings are
run properly and recorded for future
reference. A knowledgeable and
forward-thinking property manager
not only has the experience of working
with associations similar to your own,
but they have also proactively attended
classes and other training to gain a
better knowledge of the many facets
of running a condo association. This
gives them the ability to coordinate
with many types of professionals and
translate the information given to
them to the board in a language that is
understood by all.
"Their expertise will better prepare
the board to make the important
decisions necessary for the proper
management of their condominium
association," Wells adds.
■ BRENDON KILCOYNE, CIC, IS
WITH H&K INSURANCE AGENCY, INC.
February 2020 CONDOMEDIA
37
Condo Media - February 2020
Table of Contents for the Digital Edition of Condo Media - February 2020
Contents
Condo Media - February 2020 - Intro
Condo Media - February 2020 - BB1
Condo Media - February 2020 - BB2
Condo Media - February 2020 - Cover1
Condo Media - February 2020 - Cover2
Condo Media - February 2020 - Contents
Condo Media - February 2020 - 2
Condo Media - February 2020 - 3
Condo Media - February 2020 - 4
Condo Media - February 2020 - 5
Condo Media - February 2020 - 6
Condo Media - February 2020 - 7
Condo Media - February 2020 - 8
Condo Media - February 2020 - 9
Condo Media - February 2020 - 10
Condo Media - February 2020 - 11
Condo Media - February 2020 - 12
Condo Media - February 2020 - 13
Condo Media - February 2020 - 14
Condo Media - February 2020 - 15
Condo Media - February 2020 - 16
Condo Media - February 2020 - 17
Condo Media - February 2020 - 18
Condo Media - February 2020 - 19
Condo Media - February 2020 - 20
Condo Media - February 2020 - 21
Condo Media - February 2020 - 22
Condo Media - February 2020 - 23
Condo Media - February 2020 - 24
Condo Media - February 2020 - 25
Condo Media - February 2020 - 26
Condo Media - February 2020 - 27
Condo Media - February 2020 - 28
Condo Media - February 2020 - 29
Condo Media - February 2020 - 30
Condo Media - February 2020 - 31
Condo Media - February 2020 - 32
Condo Media - February 2020 - 33
Condo Media - February 2020 - 34
Condo Media - February 2020 - 35
Condo Media - February 2020 - 36
Condo Media - February 2020 - 37
Condo Media - February 2020 - 38
Condo Media - February 2020 - 39
Condo Media - February 2020 - 40
Condo Media - February 2020 - 41
Condo Media - February 2020 - 42
Condo Media - February 2020 - 43
Condo Media - February 2020 - 44
Condo Media - February 2020 - 45
Condo Media - February 2020 - 46
Condo Media - February 2020 - 47
Condo Media - February 2020 - 48
Condo Media - February 2020 - 49
Condo Media - February 2020 - 50
Condo Media - February 2020 - 51
Condo Media - February 2020 - 52
Condo Media - February 2020 - 53
Condo Media - February 2020 - 54
Condo Media - February 2020 - 55
Condo Media - February 2020 - 56
Condo Media - February 2020 - 57
Condo Media - February 2020 - 58
Condo Media - February 2020 - 59
Condo Media - February 2020 - 60
Condo Media - February 2020 - 61
Condo Media - February 2020 - 62
Condo Media - February 2020 - 63
Condo Media - February 2020 - 64
Condo Media - February 2020 - Cover3
Condo Media - February 2020 - Cover4
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