Addressing the shortage of Condo Managers in Ontario and why now is the ideal time for women to join the industry.
Recently the CBC shared an article, calling attention to the massive shortage of condo manager that the province is facing (you can read the full article here: https://www.cbc.ca/news/canada/toronto/ontario-condo-manager-shortage-1.6861777This
This article highlights a significant and growing opportunity within Ontario's property management sector, particularly concerning condominium management. Historically, the condo management industry has not been cast in the most attractive light. Stories of verbal abuse from owners and even Board Members towards property managers is a real concern, as is the stress that can come with managing the maintenance and inevitable emergencies that arise in a multi-unit building or townhouse complex. However, given the current climate of necessity for management and a changing landscape of how condo management firms are run, entering this field could be an attractive career path. Here are a few reasons why:
Growing Demand: Ontario is experiencing a surge in condo development, with projections indicating that 25,000 new units will be added in a single year. This boom in construction translates to an increased need for property managers to oversee these units. For individuals looking for a stable career with a clear growth trajectory, this sector offers promising prospects.
Career Advancement Opportunities: As the industry evolves, there will be new opportunities for advancement. Professionals who enter the field now may benefit from various career paths, including senior management roles or specialized positions in property and asset management.
Impactful Work: Property managers play a crucial role in maintaining the quality of living within condo communities. They handle day-to-day operations, financial management, and legal compliance, directly impacting residents’ quality of life. This aspect of the job can be highly rewarding for those interested in contributing to community well-being.
Innovation and Reform Opportunities: The current shortage of property managers presents an opportunity for those entering the field to drive innovation and improve industry standards. Being part of this transformation can be an appealing prospect for individuals who are entrepreneurial and eager to influence industry practices.
So how do you get started as a Condo Manager?
Educational Requirements: Start by researching the educational prerequisites for obtaining your Limited License or General License in Ontario. The very first step is to complete the Excellence in Condo Management Course; you can find more information about that here: 1 - Excellence in Condominium Management Course Blueprint (cmrao.ca)
Obtain Certification: The Condominium Management Regulatory Authority of Ontario (CMRAO) regulates the industry and requires property managers to be licensed. You will need to complete a recognized training program and pass an exam to obtain your license. Look into institutions or online courses that offer certification programs aligned with CMRAO requirements. Humber College is one of those institutions in Ontario - learn more about the Condo Management Courses they offer here: Condominium Management (humber.ca)
Gain Experience: Practical experience is crucial in this field. Consider starting in entry-level positions or internships within property management companies to gain hands-on experience. This will not only provide you with industry knowledge but also help build a professional network.
Develop Soft Skills: Effective property managers need strong organizational, communication, and problem-solving skills. Enhancing these soft skills through workshops or real-life practice can improve your ability to manage complex situations and interact effectively with residents and condo boards.
Stay Informed and Connected: Engage with industry associations such as The Association of Condominium Managers of Ontario (ACMO) and the Condominium Authority of Ontario (CAO). These organizations offer resources, networking opportunities, and ongoing education to help you stay updated on industry trends and best practices. Check out this handy resource from the CAO's website: CAO Guide on Communication and Conflict Resolution (condoauthorityontario.ca)
Explore Job Market and Opportunities: With the growing demand, many property management firms are actively seeking new talent. Onyx is very active on LinkedIn and with attending industry-specific events – these are both excellent spots to connect with those in recruitment positions.
Consider Specialization: As the field evolves, consider specializing in areas like financial management, legal compliance, or community relations within property management. Specialization can open doors to niche roles and increase your marketability.
Entering the property management field in Ontario now offers significant opportunities due to the sector's rapid growth and current shortages. With competitive salaries, promising career growth, and the chance to make a tangible impact on communities, it’s a field worth considering. By following the outlined steps—obtaining the necessary education, certification, and experience—prospective property managers can position themselves for a successful and rewarding career.
Contribution by Shiona Niven
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