Are you considering a career in condo property management, but don't know what to expect of the condo industry, or what the path to becoming a licensed property manager is like?
You've come to the right article to find out... and it's a personal one thanks to the insightful perspective of Stratastic's guest post and collaborator, Tobi Ogude (a newly licensed property manager).
But first, before we dive into Tobi's valuable insights, let's wade through a quick overview about some common questions and concerns that those considering a property management job may have.
Becoming a Licensed Property Manager: From Licensing to Hired!
You may have some uncertainties about becoming a licensed property manager, and we're here to assure you that you'll figure it out! This post's collaborator, Tobi Ogude, has recently embarked on this path and he's just as excited to share his experience with you as we are to help him lead the way!
So what are some common questions you may be asking yourself about becoming a licensed property manager? Let's sort out the most common ones, asap!
Licensed Property Manager (Ontario): Programs
How do I become a licensed property manager? What's the educational component property manager program like (or can I take a property manager course online)? After I do this, am I done or is there more?
These are good questions, and unsurprisingly, the answer will vary based on when you're reading this post. We suggest checking out the Condominium Management Regulatory of Ontario (also known as the "CMRAO") for the most up-to-date information about requirements for licensing of property managers in Ontario and available property manager programs (including any online courses that may be offered) Check out the CMRAO's page here for information about education.
Also, don't forget that condo property managers are required to participate in continued education courses (also called CPE credits) to maintain their status as a licensed property manager. Don't fret! These aren't hard to do. Many of these CPE credits for continued education are offered to property managers via online "courses", which are really more like 1-2 hour educational webinars. Want to see what they're like? Head over to our Events page for a CPE-accredited webinar, and sign up to check them out! Moreover, at The Condo Conference 2023, licensed property managers looking to bulk up on their CPE credits were able to collect up to 60% of the annual requirement!
How Do I Find Property Manager Jobs?
Once I get my property manager license, how do I find property manager jobs, and is there a property manager association, or someone that can help connect me to other property managers near me for networking or mentorship opportunities?
You can use many websites (like Stratastic's job listing feature!) and social media platforms (like LinkedIn!) to find condo property manager jobs, and there are absolutely associations that can help you interconnect with other local property managers! Some of these associations include the afore-mentioned ACMO and The Condo Conference, as well as CCI Toronto and the CAI (Canadian Chapter). These associations for property managers host many events that you can participate in, so consider reaching out to become a member (or keeping an eye out on our Events page!).
Now, Let's Turn It Over to Our Guest Collaborator for His Condo Industry Insights and Experience as a Newly Licensed Property Manager!
Are you ready? Meet our ongoing Community+ guest blogger and collaborator, Tobi Ogude! In this article, he'll be sharing his perspective as a newly licensed property manager (including what inspired him!), his opinion on condo industry events such as The Condo Conference 2023, and what taking on the property manager's duty and responsibilities means to him. Let's get going!
A Newly Licensed Property Manager + Tobi's Innovative Approach to Education for Condo Managers
What Drew Me Towards Condominium Corporations and Becoming a Licensed Property Manager?
In college, I wrote a short essay for my Urban Planning course titled “Children Need Something to Look Up To”, where I analyzed the correlation between a city’s skyline and its effects on the citizens’ imagination, excitement, and desire to participate in the growth of that city’s culture and urban landscape – especially for its rising generation. In that essay, I reflected on how the opportunity to participate in The United Way’s Climb UP program (which gives participants the chance to conquer the CN Tower by climbing its steps all the way up) taught me and my class the power of tackling your goals in a slow and steady manner instead of rushing headfirst without fully counting the cost.
The program only existed because the city had this landmark tower to shape the imagination of our young minds while simultaneously shaping the skyline of the city.
Getting the Education Needed to Become a Licensed Property Manager in Ontario
After college, when I was thinking long and hard about what career field I wanted to go into, I discovered that there was a whole industry called “Condominium Management” which I had absolutely no clue was even a thing! I was instantly intrigued and wanted to know everything about becoming a licensed property manager. I thought to myself, “Wow, is it true that there’s an actual job that involves knowing, managing and stewarding everything related to these magnificent skyline-creating structures!?” I took all four licensing courses (at once!), applied for a property management job, and immediately got to work!
My Role and Responsibilities Since Becoming a Licensed Property Manager
It has been two years since discovering and entering the condo industry, and while I still love the work and have managed to hold on to my enthusiasm, I can say that time has matured my thinking and removed a great sense of naivety from my person. From dealing with difficult board members, to resolving emergencies such as floods, to managing relationships with vendors of different competence levels, I have a hunch that I haven’t even scratched the surface of how complicated this industry can get for a manager!
Networking Opportunities, Support, and Continued Education for Licensed Property Managers in Ontario
Thankfully, the industry prides itself on its access to continued education, and credits towards this can be attained at the annual conference called “The Condo Conference” (which I attended in 2023, and 2022). This event allows condo vendors, property managers, and board members alike to refresh and relearn lessons that may have been forgotten through the hustle and bustle of everyday business. Last weekend, I attended this conference for the second time, and got to participate in the trade show, classes, and detailed question-and-answer sessions.
The only difference between this year’s conference and last is the experience I’ve gained in between, and how that experience has made me appreciate the content discussed in the classes much more, in addition to helping me to understand how to better navigate the trade show. For instance, my experience dealing with condos that have a high volume of Airbnb rentals helped me better appreciate the lessons on insurance as well as the news of the government’s decision to introduce new tax measures on Airbnb, and VRBO hosts.
"My experience dealing with different types of vendors has helped me appreciate the efforts made by the vendors to capture our imaginations and possible business as managers- stewards of the daily operations of condo corporations" - Tobi Ogude, Licensed Property Manager and Founder of LearnAboutCondos.
Those in the condominium management sector know that the industry itself is tightly-knit, which makes it easy for managers to support one another because we are all facing pretty much the same types of problems – just different variations. Ultimately the job of a condo manager is to recommend to the Board steps to take that will increase the odds of property value growth for owners. The more access to resources and continued education that prove to be useful for us condo managers, the better informed we are to do our jobs.
Managing a condo is in no stretch of the imagination a walk in the park. It is a job that requires much patience, vast knowledge, and strong interpersonal skills. Conferences, industry-related, and company training, as well as continued education, are all accumulative intellectual assets that can act as strong support systems for a property manager to navigate situations as diverse as the nature of the job.
Despite the rapid decline of the economic landscape of the western world, many young people are catching on to the power of education, knowledge and real estate. With that being said, many are only just buying their first properties and are drawn to the allure of Condominiums. New owners who are trying to beat the economic climate are also hustling through school, their day job as well as multiple other side hustles which are required to thrive in this economy; they do not have the bandwidth to pay detailed attention to the Condominium industry and all its moving parts.
Tobi's Innovative Approach to Education: Social Media (TikTok)
As a newly licensed property manager in the condo industry, my desire to help other managers learn the ins and outs of the industry is one of the many reasons why I started the TikTok page @learnaboutcondos, where managers who are new to the business can get more detailed education on property and property management in an enlightened, entertaining and engaging manner. You are invited to follow the growing audience of managers and young entrepreneurs by following the TikTok page!
So Why Become a Licensed Property Manager?
In my growing experience, there are two rewards of being a licensed property manager. The first is being able to better understand human behaviour. The second is to observe patterns on what makes a strong and beautiful structure such as a Condominium building to function well and add to the lifestyle and culture of its urban landscape. Urban planning is more than just understanding demographics and density; being part of the Condominium industry is helping me to understand that it is more about contributing to the imagination, comfortability and excitement that residents and homeowners have towards the urban landscape while using our position of stewards to foster these feelings.
The investors and condo owners of today are the children of yesteryears who sought inspiration in their skylines.
-Tobi Ogude Condominium Manager & Content Creator for Stratastic Inc.
(Edited by Stratastic)
P.S. Stratastic knows how difficult managing a condo is (even for an experienced property manager!), and we've got your back. Sign up now for free access to a variety of tools built to make your job more efficient and effective now!
Updated on April 11, 2024