What does a Property Manager do in BC?
In BC there are 2 licenses for Property Managers: Rental or Strata. The two professions are similar in that the licensed person is dealing with clients and the public, repair and maintenance, clients’ funds in trust, real estate, and legislation. The differences however, are vast.
The bulk of a Rental Property Manager’s day to day work deals with the marketing, leasing, and transitioning of rental properties (we specialize in “single dwelling” properties–condos, townhomes, detached homes, duplexes, triplexes, or properties without common areas) as well as repairs and maintenance, regular inspections (we include twice per year in our full service package), collecting rent, and advising clients on rent increases, the current market, Strata notices, which vendors to use, etc.
Strata Managers spend much of their time working with Strata Councils: preparing for meetings, drafting/distributing minutes of meetings, working on annual maintenance schedules, budgets, insurance renewals, capital plans, chargebacks, and management of on site staff, to name a few.
Along with the above tasks, both Rental and Strata Managers spend much of their time explaining to clients and the general public their role in the management of the property they are assigned. Its a very niche profession and very few fully understand the obligations, services, and workload of property managers.
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*The above information is not to be relied on as legal advice. If you require professional or legal advise for your personal circumstances, please reach out to us for a referral, or consult with us for property management services.
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