Whether you live in an active adult community, a gated, resort-style neighborhood, or a downtown high-rise condo, your community needs someone to coordinate the financial, physical, and mechanical upkeep of your property. Your managing agent handles all of these responsibilities—and if he or she is like most in the management profession, probably handles a lot more than that.
A "typical day" for a property manager could mean quiet hours of paperwork done at a desk, or it could mean a whole day spent in galoshes, slogging around a construction site. It could include a mediation session between two neighbors warring over a mistreated shrub—or it could mean finding temporary housing, clothing, and other necessities for a family who just lost everything in a fire. Few professions offer as much variety (or pose as many day-to-day challenges) as property management.
The Daily Grind
Jaime J. Raskulinecz is co-owner of Rainbow Property Management in Verona, a management firm that manages about 1,000 units spread throughout six different properties. In business since 1994, her firm's portfolio in New Jersey ranges from rental housing to community associations, townhouses, condos, and high-rises.
"There probably isn't a 'typical' day, because you are at the mercy of what happens at your properties," says Raskulinecz. "In general, in the morning, I try to handle e-mails and phone calls, but more often than not, there is something waiting in the fax machine or in an e-mail that requires immediate attention. That could be anything."
Alfred Ojejinmi is a regional director for the Wentworth Group, one of the largest property management companies in the country. Managing over 900 associations and communities spread across nine states, this organization is responsible for the smooth running of over 165,000 homeowner units. He is also the current president of the Institute of Real Estate Management, New Jersey chapter (IREM-NJ). His local region manages about 50 associations, which amounts to about 15,000 homes.