CAI-NJ Jan. 2022(w)

Here is my GAME

CHANGER By Robert Arnone, AMS, CPM RCA Management, LLC

W hatever career you pursue, to achieve excel- lence is in part keeping up with expectations. Picture the sands of an hourglass as your property. The property manager expects to catch the sand, wait for the condominium board to approve repairs and replenish the sand before the hour is up. If it sounds a bit harrowing, well, it can be, unless, of course, there is planning, integration, and execution with the available resources at our disposal. Today’s technology allows us to forecast, prepare, diagnose, repair, replace and add efficiencies at unprec- edented accuracy. So, things are looking up for property managers. Well, let’s revisit the expectations. Unfortunately, properties, for the most part, are not like a fine bottle of wine. The tax strategy of depreciating a property is what it sounds like. As properties age, the cap- ital structures, roofs, parking lots and elevators lose value. Property managers use technology to better understand how forecasting becomes a crystal ball into a building’s

future needs to stem the tide of a depreciating asset. So, let’s look at some of these gadgets, tools, and “there is an app for that.” Value Engineer Through Efficiencies In the planning process, some capital projects could last 6-12 months or longer. We have all heard of projects going over budget. Time control is so important when managing a project, and there is software to help us better forecast the different scenarios. A good tool for property managers, architects, engineers, and the general contrac- tor is a Gannt Chart. I personally like SmartChart. Working with a Gannt Chart gives a property manager insight into added possible delays when budget forecasting. A property manager could manage a building for 5-7 years before a large capital project. Herein lies the value that can bring to the association. However, delays in cap- ital projects can contribute to unnecessary change work orders and additional costs. Sure, a condo association can

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