Change with the Times

In this article, Tony Seljak, RCM, discusses the changing landscape of the Ontario condominium industry. He highlights the evolution from a time when inexperienced individuals could call themselves property managers to the present day, where increased regulations, rising labor costs, insurance rates, and lawsuits have placed greater pressure on property managers. With the new Condominium Act and the availability of information online, property managers are required to be well-trained and knowledgeable. Technology has become a crucial tool for property managers to communicate with owners and board members instantly and manage property websites and owner-specific portals. Compliance with the new Condominium Act and licensing requirements is imperative for property managers. Boards are recognizing the value of highly trained and experienced property managers, leading to a demand for competitive wages and a shortage of qualified licensed property managers. Seljak acknowledges that while the industry is attracting more educated professionals, addressing the work-life balance is crucial to alleviating the shortage of skilled property managers.