CONDO MANAGERS SHOULD NOT MANAGE MORE THAN 4 SETS

CONDO MANAGERS

Condo managers should not manage more than 4 sets

Managing buildings or complexes in Colombia is a trade that can be exercised without having a specific professional title, the important thing is to fully know Law 675 of 2001, which regulates the horizontal property regime.

However, the responsibility of a horizontal property manager is high if one takes into account that, in the country, these people handle much more than one billion pesos a year. For this reason, the co-owners and members of the board of directors must know how to choose their administrator.

According to Omar Cortés, manager of Edifito.co, in Bogotá in a stratum, four residential complex – with 10 towers of 48 apartments and with basic common areas – an average administration fee of 230 thousand pesos per month is handled. The panorama is not the same in complexes where there are swimming pools, courts and common areas that require special maintenance or in those that are in higher strata. In these cases, the administrative fee can exceed 500 thousand pesos per apartment.

Taking these calculations into account, an administrator who has a residential complex with these characteristics manages more than one billion pesos per year. The panorama is practically the same in Bogotá, Medellin and Barranquilla.

“In theory, a natural person should not manage more than four condominiums of more than 60 units each. It would not be correct, nor ideal, however, there are administrators with up to eight condominiums under their responsibility,” said Cortés.

Minimize mismanagement

The new technologies have been necessary to achieve success and minimize at its best handling fraudulent in horizontal property administrations. Complaints by co-owners and administrative councils over time have been innumerable, human errors too.

Currently, there are platforms designed to control all areas of a condominium. From the personnel and their obligations to the precise accounting of all the money collected and its destination. These tools have contributed to reducing the diversion of funds, for example.

Cortés explained that although these platforms do not illustrate the administrators in the guidelines of Law 675 of 2001, they do meet the requirements in terms of the information that must be handled in a condominium. In addition, they facilitate management in terms of communication with residents and in administrative terms, as they allow monitoring of all management, generating financial reports in real-time.

The knowledge of an administrator

From the experience of the manager of Edifito.co, the responsibilities of a horizontal property manager go beyond the monthly collection of the established fee per apartment and the payment of suppliers.

A person who is in charge of the goods and services of a residential complex must -among other things- know Law 675, have basic accounting principles, know the rules of the Occupational Health and Safety Management System (SSGT), know the basic norms habeas data, knowing about urban regulations, portfolio managementcontracting and managing suppliers.

“The co-owners must know how to choose their administrator, because, despite the fact that they currently have the support of technological platforms, the administrator is the one who is responsible for the money that each of them pays month by month and the proper management of it” Cortés concluded.