Condo security concierge and patrol teams are still a crucial part of a property’s security strategy. Still, their effectiveness has been drastically enhanced with the addition of HD surveillance camera systems, biometric access controls and other high-tech tools that were once the stuff of science fiction.
Most days, life in a condo management office is mundane. Process invoices, solicit quotations, prepare board meeting packages; the list goes on. But every so often, your day goes sideways. And it frequently involves crime and the police.
Have you ever received an email where your boss or colleague asks you for a weird favour? One of the most common odd messages is a request for iTunes gift cards, but other variations either ask you to make a purchase with your own money and send PINs to the requestor or share your personal information.
It is no secret that our industry can be a magnet for fraudulent activity. If you’ve spent any time in the industry, you may have seen it firsthand or heard about it on the news. From the large-scale con jobs to more minor discreet thefts, condominiums seem designed to be targeted for this kind of activity.
In recent years condominiums have been facing a significant new threat; the cloning of access control credentials, also known as key fobs and fobs.
Financial crime in condominiums is not as common as in other organizations, but it has severe and often disastrous consequences when it occurs.
Crime in condos – there is some good news and some bad news. Let’s start with the bad. There is no silver bullet to prevent crime. It can happen anytime, anywhere, and can take various forms, such as theft, vandalism, break-ins, burglaries, assaults, trafficking, and more. However, the good news is that condominiums have several measures and tools to implement to prevent crime by their very nature.
Property managers play a crucial role in assisting and educating board members on capital improvement best practices. Unfortunately, the learning curve is steep, becoming even steeper when dealing with board members who are either inexperienced or corrupt. When a property management company is willing to drive accountability, they can successfully steer boards away from unethical conduct they may either knowingly or unknowingly commit.
Like any community, condominiums are exposed to threats from individuals who look for easy ways to achieve their selfish goals. This article aims to share some information on ways to protect the condominium community against fraud and crime.
The overwhelming majority of property managers, board members and owners are good, well-intended honest people. Regardless, the integrity of condominium governance needs to be ingrained into all of the processes used to make decisions at the board level, especially when it pertains to elections, AGMs and other matters requiring input and voting from owners.
Most media coverage of the Champlain condo collapse focuses on the human tragedy and the lives lost – and rightly so. However, understanding what went wrong and what role the condo board played is also relevant, especially to board members of other condos. This article summarizes some information and thoughts relevant to that perspective.
Thank you for being part of ACMO. Your involvement and passion in this profession and industry gives us our strength reminds us that we are part of a professional community, and provides the spark that allows us to see our way forward into the future.
Any business that is owned and operated by humans is susceptible to mistakes. New and small business owners share that reality with large and established corporations. Whether it’s a miscalculated decision that results in a financial loss, or an aggressive goal that doesn’t pan out, mistakes will happen.
Mistakes are an inevitable fact of life. While proper care and diligence should be taken at all times to avoid mistakes, they will occur. Not all mistakes, however, result in prejudice that warrants legal or disciplinary action.
How do we swallow the uncomfortable pill of our own mistake? Admitting it, of course!