Last edited on
What does a property manager do in an apartment building
What does a property manager do in an apartment building?
In an apartment building, managing the common areas is no simple task. That is why a syndic is appointed. But what exactly does a property manager do in an apartment building? The property manager is responsible for the daily management, administration, and financial management of the co-ownership. He or she carries out the decisions of the Owners Association (Owners Association).
What is the role of a property manager?
The property manager is the legal executive body of the co-ownership. This means that they carry out the decisions of the general meeting and ensure that the building is managed correctly.
Their duties are established by law and include, among others:
- Representing the Owners Association
- Carrying out decisions of the general meeting
- Managing the common areas
- Monitoring maintenance and repairs
The property manager can be a professional real estate manager or a co-owner who takes on this task.
What does a property manager do on an administrative level?
Administration forms a large part of a property manager's work. They organize the annual general meeting and prepare the agenda. In addition, they draft the minutes of the meeting and keep all official documents of the building.
The property manager also ensures:
- Maintaining the list of members of co-owners
- Managing contracts with suppliers
- Concluding and monitoring insurance policies, such as the block policy
- Compliance with legal obligations
Correct administration is essential to avoid disputes and legal problems.
What does a property manager do financially?
Financial management is one of the most important tasks of the property manager. They prepare an annual budget and collect the common costs from the co-owners.
In concrete terms, this involves:
- Collecting monthly or quarterly provisions
- Paying invoices for maintenance and repairs
- Preparing the annual final account
- Managing the reserve fund and working capital
The property manager must work transparently and be accountable to the general meeting.
What does a property manager do in case of damage or problems?
In case of problems such as water damage, technical defects, or conflicts between residents, the property manager acts as the point of contact. If necessary, they involve the insurance, contact repairers, and monitor the situation.
In case of urgent repairs, the property manager may even intervene immediately without prior approval from the general meeting to prevent further damage.
Is a property manager mandatory in an apartment building?
Yes, in a building with multiple owners, a property manager is legally required. As soon as there is a co-ownership with common areas, a property manager must be appointed. This can be a professional property manager or a voluntary co-owner.
What is the conclusion?
A property manager manages the apartment building on an administrative, financial, and technical level. They carry out the decisions of the co-owners, manage the common areas, and ensure the daily management of the building. Without a property manager, a co-ownership cannot function correctly. Therefore, they play a crucial role in the proper management and value of an apartment building.
A good property manager solves problems before you even notice them.
Work with Parte
Will you also choose Parte
At Parte, you get the best of both worlds: the personal approach of a local team that knows your building, and the strength of a professional group. One fixed point of contact, bundled expertise, and modern technology that a solo property manager cannot match. Request a non-binding quote today.
