Property Management

August 4, 2026 Published by Toronto and Area Chapter - By Croydon DeMello

The Director's POV

From the Summer 2026 issue of CCI Toronto Condovoice Magazine.

Out of all the relationships the Board of Directors can have with its various vendors, perhaps the most important one is with the property management company. If the building is on the smaller side, chances are the Board assumes the responsibility of property management. Honourable mention is given to these types of setups, as the work is essentially full-time, catering to the needs of the units and building equipment.

For large-capacity buildings where there are many units and a requirement for property management to be on-site, the Board of Directors will appoint a property management company to assist in day-to-day operations and in keeping the Board informed to make effective decisions. This harmonious relationship is at the heart of a well-run building and is essential for maintaining satisfied unit owners and tenants.

What are the duties of a property management company?

Maintenance and Repair: A good property manager will perform maintenance and repairs promptly. When dealing with equipment that is aging or broken, the longer you wait to repair, the costlier it could get and, in turn, cause other issues. A manager who is alert and prepared will immediately inform the Board about the issue, gather at least three competitive quotations, and follow up with the Board to arrive at a final decision and engage approved vendors to complete the task on time. Performing routine maintenance, preparing for inspections, and implementing preventative maintenance strategies will keep the building in good health.

Finance: Financial data acts as a language to help understand the financial health of the building and its resources. Although property management may not sign off on finance agenda items, the accounting department will generate financial statements, act in compliance with local accounting standards, schedule the reserve fund study, prepare annual budgets in consultation with the Board, collect maintenance fees, and pay expenses. In most cases, property management has a limit on how much they can spend without Board approval; when that threshold is crossed, they must request approval from the Board.

Residents: Property management acts as the conduit between the Board and the residents. Any resident who wishes to speak to the Board must route through property management, who will submit their concern and respond with answers from the Board. All regular communication and updates on developments will be administered by property management either through paper notices or software technology. Management will also take on a customer service role by handling resident complaints and issuing warnings or notices.

Property management also takes on the role of enforcing the corporation's rules and may assist the Board in implementing new rules where appropriate, in accordance with the Condominium Act, the declaration, and the by-laws. An experienced company will have a strong understanding of Robert's Rules of Order and Nathan's Company Meetings, both of which are widely used as guides for facilitating Board and owners' meetings, along with the Condominium Act, the declaration, and by-laws. While it is not the obligation of the management company to act as legal counsel for the corporation, a basic understanding of how to navigate these resources can help align the Board toward a decision before consulting the appropriate authority.

Record Keeping: It is the function of management to maintain all records, legal contracts, security reports, maintenance work orders, and logs according to the compliant retention timeline. These records must be produced to the Board upon request and filed in a secure location with a backup protocol. Minutes of meetings should be sent as soon as they are available, and meeting packages must include all pertinent information to support agenda items.

Education and Experience: With the advent of continuing education, there is no dearth of industry courses, seminars, and webinars to attend; however, nothing beats the practical experience gained on the job. Well-versed property management has seen it all before or has garnered enough experience to know how to approach an unpredictable situation. This experience can save time and money by avoiding experimentation. At the end of the day, it is the Board that makes the final decision, relying on the fact that the report from the property manager accounts for all variables.

It is best for the Board of Directors and property management to maintain a problem-solving culture. Too often, egos and power take the front seat and the actual issue falls by the wayside. A good property management company will set the tone and culture of a building. Respect, communication, open-mindedness, and collaborative effort toward a united vision will ensure that both parties can be effective in their endeavours and that the building maintains a healthy and amicable community.

Croydon DeMello, TSCC 2281 President