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Professional Development
Online marketing is an important component of a property manager’s toolbox
Today’s property manager doesn’t have it easy. Between managing employees, travelling to and from buildings and keeping residents happy, managers have a lot on their plates. In Canada, a strong housing market has created a lot of demand for managers, as such, there is an abundance of small businesses all vying for the same property owners. As competition increases, how well are managers and builders keeping pace with the business and marketing side of things?
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Encourage Questions to Improve Open Communication
Leaders are confident that they are capable, through their actions and attitudes, of creating a healthy work environment. They foster open communication that encourages employees to freely ask questions and discuss any concerns.
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Condominium management is the key to sustainable success
Creating a condominium is a lengthy and detailed process. From the purchase of a parcel of land through to design, approvals, marketing, sales, construction and after-sales service, hundreds of people contribute to create what is hoped to be a successful real estate product. In the long term, however, the success of a condominium depends a great deal on what happens after occupancy in the way of property management. Interestingly, as different as residential and industrial/commercial condominium development can be, the management of the occupied buildings works the same way.
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Ten ways to fire-up a business that work
In high school, we learned Shakespeare’s indelible words, “What’s past is prologue.” But that’s where we stopped, missing the key part of the bard’s advice: “Whereof what's past is prologue; what to come, In your and my discharge.” It’s a clear message: don’t depend on what’s happened so far; it’s all in your hands now.
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Slam Dunk - A Winning Approach to Condo Board Meetings
What does the game of basketball have in common with condominium meetings?
Well, a flawless game plan for winning with 100 per cent success at every condominium board meeting or basketball game does not exist. There are, however, strategies and principles that can support the success of the condominium board team. We all know there is no “I” in “team” and most of us understand the thought processes behind this concept. It is particularly awkward, however, to manoeuver a basketball or decision process into the hoop with many players of varied skill sets.
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Harnessing Your Knowledge to Stand Out in a Crowded Market
Many property management companies have trouble getting noticed and demonstrating the added value they offer. Their leaders know that if they could find a way to demonstrate their difference, they would have their choice of properties to manage, with less price-based competition, and they would be more secure against another firm low-balling its way into their market.
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Dysfunctional Boards: déjà vu—all over again
As a law student many years ago, I decided that I didn’t want to practice family law. My reasoning went like this: I would be involved with unhappiness, occasioned by the raw and unpalatable emotions of clients. Family law, I told myself, was permeated by the anger, incivility, non-cooperation, and dysfunction of unhappy clients.
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Web-thinking: the better way to win
Competition. We grew up with it. We were told this is the way things were, are, and will be. But in the last twenty or thirty years, a new business model has emerged which some call "web-thinking." Like the World Wide Web and the spider web, it's an image of connection rather than competition.
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Help change annoying workplace habits
Most bosses have employee-driven pet peeves and frustrations to deal with on a daily basis like bad manners or using company time for personal phone calls. The problem is, while most of these pet peeves start off as small frustrations, they can turn into bigger problems in the long run. The question is: what can a manager do to change these behaviours so they don't affect the business negatively?
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Hints for effective networking
As you climb to the top of your chosen field and are known as a skilled professional, you must first admit that school is never out. Conservatively speaking, there are at least five people who want your job. Right now they are gaining experience, educating themselves and searching for the tools necessary to compete with you for your position. Business today is so competitive; we cannot sit back on our laurels and assume we are secure.
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The good, the bad and the ugly of social media in the workplace
There's no doubt that Facebook participation can be an asset to any business. The question is, how can you use it to promote your products and company, yet be sure your team members are cautious in the way they use it? What should the owner and office manager post? Where is the line between personal and professional? Knowing the good, the bad and the ugly of Facebook for business, a company can take full advantage of this tool and watch their business grow.
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Planning for value
Condominium corporations, and the property managers they hire, have an important responsibility – to ensure the smooth running of the condo’s operations together with prudent financial management. After all, sound condo corporation management should result in a well-run and well-maintained building, enhancing the owners’ quality of life and the long term value of each owner’s property.
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Curb appeal
Most people have heard the cliché that you only get one chance to make a good first impression. This saying is not only true in life, but it even applies to real estate: first impressions are exceptionally important, especially in a slower market like the one we are facing today. Not only is the market softer than it has been in a number of years, but with so many new condominiums available, how are older buildings and townhouse complexes supposed to compete?
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Confusion can crop up over roles of manager and condo board
A property manager’s day often begins at daybreak with a flood of messages and continues at a frenetic pace until evening board meetings. But no two days are alike and each day poses a new challenge.
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Project managers are tooled for success
One of the best ways to save money during a construction project is to hire an experienced project manager to oversee construction. The project manager will direct the project from pre-construction to the completion of the post-construction phase and will ensure a successful undertaking performed on time and within budget.
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Developing community standards
Condominium homeowners often question the necessity of having so many bylaws and rules governing their day to day use of the common areas and their units. They view bylaws and rules negatively, as restrictions rather than consider the positive effects that they have in promoting the enjoyment of their condominium lifestyle. These owners often forget that in a freehold home setting there is no Board or property manager to intervene with the people next door whose dog keeps them up all night and there are no rules that can be used to stop the family next door from turning their driveway into an auto-body shop.
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Improve employee retention with training
Condominium homeowners often question the necessity of having so many bylaws and rules governing their day to day use of the common areas and their units. They view bylaws and rules negatively, as restrictions rather than consider the positive effects that they have in promoting the enjoyment of their condominium lifestyle. These owners often forget that in a freehold home setting there is no Board or property manager to intervene with the people next door whose dog keeps them up all night and there are no rules that can be used to stop the family next door from turning their driveway into an auto-body shop.
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A mixed bag
To introduce commercial uses into a residential building can be a complicated matter and those who design and develop the facility are rarely around to learn from their mistakes. The property managers of these facilities often find themselves with a string of problems that could have been avoided with a little communication with the developer during the planning stages. Here are some of the ideas that may be communicated at such a meeting.
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Personnel payback
Property management firms are experiencing increased staff turnover in a labour market with strong demand for both entry level and experienced employees. The costs of replacing departing workers and allowing time for their successors to get acclimatized in the workplace can become even more pronounced if new hires don’t stay long enough for employers to recoup their human resources investment.
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Proceed with caution: high stress levels ahead!
Are you one of many individuals who have read good articles on how to manage stress? Do you say to yourself, “yes this makes sense and I should practice some of those techniques”? Maybe you have even tried for a minute or two or a full day to keep the suggestions alive. Nonetheless, somehow life keeps happening and your attempts at stress management fall to the end of the priority list. You say to yourself, “When I have time, I will try again.”
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