With the amended law of 16 May 1975, the representation and management of a co-ownership are necessarily administered by a “Property manager” (Syndic), through a term of office, which details the conditions of its appointment and its role. Whether it is a very small condominium or a large group of buildings, its appointment must be the subject of a competitive process and a careful study of the key criteria – namely, its pricing, competencies and relational qualities.
The 3 Criteria for Choosing a Property Manager
Criterion 1: The expected pricing
Beware of packages, which may not be covering all the day-to-day management services. Here, vigilance is required to check the details of the current management costs(organisation of the condominium syndicate’s meetings, bookkeeping, etc.), as well as the price of exceptional services(collection of unpaid debts, convening an extraordinary General Assembly, etc.). It should be noted that the Property manager of condominium must satisfy the requirements of two distinct types of clients: the owner lessor who is constantly seeking cost optimization andthe owner dweller who wishes to maintain a certain quality of life.
“A good Property manager of a condominium must satisfy the requirements of both the owner lessorand the owner dweller!”
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Criterion 2: The dimension and competencies of a Property manager
Each condominium, according to its specificities, requires specific management skills. Not to mention the associated workload. The chosen Property managermust be able to meet all these requirements, in terms of workload and human resources management. In concrete terms, it must be able to reduce costs, while calling on qualified service providers and negotiating each intervention, whether in terms of maintenance or building works to be carried out. More generally, its employees must be regularly trained in the latest techniques and regulations of condominiums.
Criterion 3: Relational qualities
A good Property manager must be able to build a relationship of trust with the various co-owners. If this privileged link is built over the years, it must be able to present certain tools and devices, intended to reassure you on this point: for example, the transparency of its activities, via clear communication to its customers, regarding the administrative, financial and technical aspects of the building. A professional must also be both available and responsive to all kind of requests.
“Only a relationship of trust guarantees optimal management of the building! »
The Term of Office of the Property Manager of a Condominium
The term of office binds the Property manager (who becomes representative) directly to the condominium syndicate (the principal).As it cannot be subcontracted to a third party, it implies that the Property manager personally carries out its mission. Mandatorily appointed at a general meeting by an absolute majority (50% +1) of all co-owners, the Property manager begins his term immediately after the vote, unless the parties agree on a later date. From that moment on, the appointment runs for a maximum of 3 yearsand cannot be tacitly renewed: the law on co-ownership requires a new vote at a general meeting to renew the functions of the Property manager, but it can be renewed indefinitely, without limits regarding the number of terms.
