FirstService Residential Vice President Ian Novak, AMS, CMCA, CPM, PCAM, was elected Treasurer of the Chicago Council of the Institute of Real Estate Management (IREM) in November. As one of four current and two past leaders of IREM, this Executive Council, this team works to provide education, industry leadership and direction to real estate managers, residential and commercial management firms in Northern Illinois.

Ian Novak brings a great combination of practical residential property experience and managerial acumen to his position as Vice President of FirstService Residential Illinois.  He manages a team of regional directors and onsite management staff, with a focus on board relations and ensuring compliance with condo law and practices. During his long tenure in the industry, he has overseen an array of condominiums primarily located in Chicago’s Gold Coast neighborhood and Evanston, Illinois.

IREM® is an international force of 20,000 individuals united to advance the profession of real estate management. Through training, professional development, and collaboration, IREM® supports our members and others in the industry through every stage of their career. The Governing Council is IREM’s ultimate decision-making body. The leaders have a strong understanding of local, national, and international issues, as well as deep knowledge about the real estate management industry.

“My primary focus is the residential industry,” Novak says. “The biggest challenges that this asset class (specifically the condominium market) currently face are higher than normal insurance premiums, staff coverage, maintaining cleanliness and preventative maintenance expectations. Plus, there is the need to forecast for additional costs in order to keep amenities open.” Novak says. He spearheads companywide initiatives aimed at increasing efficiencies for the communities that managed by FirstService Residential. Additionally, his preventative maintenance programs and installation of energy and time-saving features have led to many of his sites seeing surpluses at year-end.

FirstService Residential is one of the longest-running property management companies in Illinois. Along with Ian Novak, several other leaders have taken industry leadership roles, expanding the reach and maintaining deep roots and expertise in Chicago's residential property management industry. We provide exceptional service to the residential community associations in our care.
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Nov 24, 2020