How To Avoid Condo Association Problems Before They Begin

 

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Condo association problems you can solve now

As a member of the condo board or property management team, there are going to be some problems that are simply beyond your scope of capabilities. There is no way you can prevent every problem that may ever occur. You can get ahead of most of these situations, though, with simple communication and respect.

1. Feeling left out

Condo owners who feel left out of association decisions may be less inclined to cooperate with new or existing rules. Don’t worry, there’s  an easy fix: make sure all condo owners know when and where association meetings are held, and what is on the agenda. Be sure there is enough notice for owners to come to the meetings if they want to, and always include space in the agenda for residents to submit issues they’d like to address ahead of time.

Owners who feel like a valued member of the condo association are more likely to feel like the community offers an excellent quality of life. [Read more…]

How Are Condo Fees Calculated: The Truth Is Out

How are condo fees calculated? We’ll remove the shroud of mystery for you

Waterfront Living how are condo fees calculated

There is a lot of money moving around when you buy a condo – or any real estate for that matter. Points, closing costs, inspection fees, down payment, mortgage insurance, moving costs, taxes, and condo fees are just a few places your money gets allocated.

Some are straightforward, while others are cloaked in mystery. Figuring out your mortgage payment or closing costs is easy enough to determine. You know ahead of time what your condo fees are, but how are condo fees calculated? If you’re going to be paying a fee every month, it’s only fair that you know how those fees are decided.

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7 Ways Condo Landscaping Can Increase Your Occupancy Rate

ways condo landscaping can increase your occupancy rate

You’ll see the return on your investment when you spend money and time on condo landscaping

Take a moment to picture yourself in a beautiful location. Go ahead, I’ll wait.

What does that location look like for you? Is it filled with the beauty of nature? Are there water features or colorful trees? Now, think: how would you like to live there?

Creative condo landscaping can do just that for you; it will allow your prospective residents to picture themselves living in an ideal, beautiful location. In fact, the right landscaping can and will help you increase your occupancy rate.

Well manicured design increases curb appeal. So when it’s time to sell, your condo dwellers will be able to get a higher return on their investment as compared to condo owners living in a poorly landscaped community.

Likewise, condo landscaping can attract buyers, which leads to higher demand and a higher occupancy rate for the property you manage.

Here are seven things to consider when using condo landscaping to make your property the most longed for investment.

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9 Ideas for Resident Events That Build Happy Condo Communities

ideas for resident events to build condo communitiesNo matter where you live, a bonded community is the backbone of a good neighborhood, and it’s an essential part of running great condo communities.

As a property manager, you can create lively and happy condo communities with a few good ideas for resident events.

You know as well as anyone that condo communities need resident involvement to thrive. You also know the strongest, most active communities are the ones where residents know one another, which make community involvement even more important. It’s human nature to feel empathy toward familiar people.

That engagement can be difficult to muster sometimes. People might not feel like they have the time to commit to condo association meetings, or maybe they don’t feel like they would have anything to contribute.

So how do you bridge that gap? How do condo communities come together to form a genuine community? More importantly, how do you facilitate that community building?

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How To Improve Participation in Condo Board Elections

condo board elections

Does the apple pie contest get more votes than your condo board elections? These tips will bring even the most reluctant of residents to the ballot box.

Let’s be honest, getting condo residents out to your association meeting is challenging at best. Some meetings don’t require a huge turnout, and that’s fine. You probably don’t need a large turnout for voting on a landscaping contract.

It’s a different story when you are scheduling condo board elections. This is a vote that will directly impact residents, and in order to keep your condo community happy, residents need to feel like they have a vested interest in how the property is managed.

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7 Important Questions to Ask a Property Manager About Condo Living Before You Buy

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Don’t wait for surprises. Here are 7 questions to ask a property manager before you dive into buying a condo.

When you are looking at condos, and thinking about where you’re going to be living for the next 5, 10, or 20 years, what do you think about? Maybe you envision a quiet morning sipping coffee on your deck or you think about a convivial chat with your neighbor. Visiting your potential condo community will give you a feel for the neighborhood, but you don’t want to be surprised.

One way to reduce those surprises is to have a list of questions to ask a property manager before you commit to such a big investment. These are questions that will help you make a smart decision and prepare for life in your new condo. [Read more…]

What’s a Good Property Management Salary?

property management salary

Finding the best advocate for your community may boil down to offering the right property management salary.

Hiring a new property manager is an adventure. You have to weed through some, shall we say, interesting applications. That’s the easy part. What you’re left with are (hopefully) several great candidates to interview and select.

Among the many things you need to determine when writing a property manager job description, is a competitive property management salary for your area.

If you want a qualified, competent property manager, the salary has to be in line with the going rate, as well as the general cost of living in your area. Here are a few things to consider when you’re trying to attract qualified candidates and remain within your condo association budget.

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What are HOA Dues and Are They Worth the Cash?

It’s easy to understand your mortgage, your utility bills, and your taxes. But what are HOA dues going toward?

Life is good. You just bought a brand new condo, your career is taking off, and you have great neighbors and friends that you enjoy spending time with on the weekends. Then it comes. You’ve been expecting it, but somewhere in the back of your mind, you thought they might forget. 

That small piece of paper in today’s mail is your bill for your HOA dues. It’s not that you can’t afford it. It’s just that, well, you’re not quite sure what they’re for, either. The truth is, the answer may vary widely depending on your location, the size and type of condo you own, and even the way those dues are managed.

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