When managing a property the property manager and tenant relationship is very important. A great majority of the time things go smoothly; with a good property manager in place there may be very little going on aside from collecting agreed upon monthly dues and property upkeep matters. Occasionally, however, tenant issues may arise. When a tenant feels that his or her concerns are not being addressed, a petition may be the best way to get the property manager’s attention.
Individuals who own or purchase condominiums, co- ops, or town houses may not be familiar with condo property management or the rules and roles of property management firms. Condo property management firms have to follow specific rules and regulations specific to the state and city. Additionally, there are five areas that property managers must handle: communication with owners, tenants and vendors, fiscal management, advice and consultation, record-keeping, and property management / maintenance.
Property owners may decide that property management is complicated, demanding, and time consuming and look to hire professionals to handle the work.