Difference Managing Rental Apartment and Condo

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10 years 5 months ago #14059 by Jonathan Doro
I am in the property management software side of things, and want to get the general difference between a Multifamily manager and a Property Manager. Does anyone have any good resources to learn about the industry and its nuances, terminology, and why software works well with Multifamily but not Condos/HOAs.

My understanding
A Multifamily property has one owner/company that rents each unit, so collecting monthly rent, leasing and marketing are the most important aspect, second to maintenance, admin, etc. In this case I would assume that the company provides all service to each unit, so more maintenance, more marketing, and leasing.
In a Condo/HOA they are looking to maintain there investment so they want to make sure the building is well kept, and everything is determined by the board of directors. Maintenance is generally done by tenant unless a shared property.

Let me know if you could add any other variations between them.
10 years 5 months ago #14059 by Jonathan Doro
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10 years 5 months ago #14063 by Sandy Martin
I am a multi-family housing manager, I own 2 condos and I am president of the HOA.

There are a lot of differences, but just some that I would have to say would be:

Payment differences. Rent is monthly. HOA could be quarterly or annually payments and they both need delinquent reports.
10 years 5 months ago #14063 by Sandy Martin