Association property management is designed to cover the expected, predictable, daily activities of an association. Project management is designed to cover those projects that may not be predictable or are larger scale projects that would take away from the daily management of the association. Project management, for instance, can be utilized for a flooded unit due to burst pipes or a capital improvement project replacing siding or roofing.
There are several benefits of project management, including reduced costs and better value. Value can be found when soliciting bids with properly built scopes of work and identifying the best value in comparing apples to apples.
Yet another benefit of project management is improved coordination and communication. During all stages of a large project or even a smaller unit specific insurance claim, communication is key. With a dedicated project management team, we are able to work closely with boards while also communicating the necessary information to owners and residents to keep them up to date on the project.
What will a project manager or project management team do for you? They will assist with any necessary pre-project property inspections and assessments, define a scope of work and prepare written project specifications, prepare and review contracts, supervise and inspect projects, perform final inspections, prepare punch lists, manage contractor retainage and report project updates to boards and homeowners.
The Omega Property Management team has more than 60 years of combined experience in new home construction, land development, working with the construction trades and building scopes of work. We look forward to offering these services to our clients in the years to come.
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