Setting Professional Development Goals

Key Competencies Required for a Condominium Manager in Alberta

Why Competency Development is Essential

A condominium manager must possess the knowledge, skills, and professional judgment to effectively oversee condominium operations. The Real Estate Council of Alberta (RECA) outlines key competency expectations for condominium managers, which include:

Core Competencies for Condominium Managers

• Regulatory Knowledge: Understanding and applying the Condominium Property Act, Condominium Property Regulation, and Real Estate Act Rules in daily operations.

• Financial Management: Ensuring compliance with trust account requirements, reserve fund regulations, and budgeting.

• Governance & Compliance: Supporting boards in policy enforcement, bylaw interpretation, and record-keeping.

• Ethical & Professional Conduct: Adhering to fiduciary duties, avoiding conflicts of interest, and maintaining transparency.

• Risk Management & Dispute Resolution: Handling complaints, mediation, and regulatory compliance issues effectively.

  
  

Example: A condominium manager must understand the legal requirements for handling special assessments and ensure that all fee increases are properly disclosed to owners.

Legislative Reference: The Real Estate Act Rules require condominium managers to maintain professional competency and stay informed on regulatory changes.

Setting SMART Goals for Professional Growth

What Are SMART Goals?

SMART goals help condominium managers establish clear and achievable professional development objectives:

• Specific: Clearly define what needs to be achieved.

• Measurable: Identify how success will be tracked.

• Achievable: Ensure the goal is realistic.

• Relevant: Align with industry and licensing requirements.

• Time-bound: Set a deadline for completion.

  
  

Example of a SMART Goal: "Complete a RECA-approved financial management course within six months to improve my ability to manage condominium budgets and comply with trust accounting regulations."

How to Set Effective Professional Development Goals

• Review RECA competency guidelines to identify areas for improvement.

• Assess past performance evaluations and feedback from boards, owners, or supervisors.

• Select 2–3 key skills that require development within the next year.

  
  

Example: If a manager struggles with handling bylaw disputes, they could set a goal to complete mediation training and improve conflict resolution skills.

Tracking Progress & Adjusting Goals Based on Performance Reviews

Why Track Professional Development?

Tracking progress ensures consistent growth and adaptation to regulatory changes.

Strategies for Tracking & Adjusting Goals

• Use a professional development journal to record completed training, key learning experiences, and regulatory updates.

• Seek feedback from peers, legal experts, or RECA compliance officers to refine skill development.

• Adjust goals based on industry changes (e.g., if new regulations require additional trust account training).

  
  

Example: If RECA introduces new disclosure requirements, managers should update their development plan to include compliance training on this topic.

Legislative Reference: The Real Estate Act Rules emphasize continuous professional development and ongoing learning to maintain licensing requirements.

Goal-Setting Exercise

Task:

Develop a one-year professional development plan, identifying three key areas for growth.

Steps:

1. List three key competencies you want to improve.

2. Set one SMART goal for each competency.

3. Outline steps to achieve each goal (e.g., training, mentorship, regulatory review).

4. Set a timeline for completion and progress evaluation.

Example Development Plan: