Understanding Condominium Corporation Reserve Funds and Reserve Studies
Posted on Tuesday September 12, 2017
One of the most important responsibilities of your condominium corporation's board of directors faces is effectively planning for major common-area repairs and replacements. Whether a costly expenditure is needed in a few years or not for 20, it’s the board’s fiduciary duty to make sure your condominium corporation has adequate funds when the time comes. That’s where reserve funds come into play.
Condominium Corporation Budgets: Things to Consider When Creating Your Budget
Posted on Monday July 24, 2017
The annual budgeting process offers an opportunity for your board to explore your condominium’s current financial condition and to ensure your community’s financial stability for the future. Successful condominium management hinges on a well thought out budget for both short-term and long-term planning.
Condominium Corporation Budgets: Creating a Road Map to Success
Posted on Wednesday July 19, 2017
It’s budget season! Are you stressed? Concerned about a potential dues increase or a large capital project that’s looming in the future? The word “budget” can be scary, so thinking about creating next year’s budget is daunting for many homeowners boards. We’d like to change that.
Tips to Create a Rooftop Oasis
Posted on Thursday March 09, 2017
Enhancing the lifestyle of your high-rise property requires starting at the top – the rooftop, that is. By taking advantage of this space to offer creative and imaginative amenities, you’ll not only increase property values, but you’ll also provide a gathering place for residents to relax and connect. Great rooftop spaces also have a way of infusing more resort-style living into your high-rise.
The Six Ways a Condominium Management Company Adds Value
Posted on Thursday February 23, 2017
If your condominium corporation is self-managed, you may think everything is going along just fine. But what you may not realize is just how much a professional condominium management company could improve your community and how much money it could save your corporation in the long run.
Five Fundamental Roles on Your Condominium Board
Posted on Tuesday February 21, 2017
To be successful, a condominium community needs a dedicated Board of Directors who understand their roles and responsibilities and are committed to fair representation of the residents they have been elected to serve.
Eight Myths about Partnering with a Property Management Company: Busted
Posted on Wednesday February 15, 2017
Despite its size and pervasiveness, the property management industry is a mystery to many people. They aren’t sure exactly what a property management company does that they can’t do on their own, the benefits of partnering with a quality property management firm or what to look for when shopping for one.
How Healthy and Effective Is Your Condominium Board?
Posted on Tuesday February 07, 2017
How well is your condo board functioning? Do your meetings feel fluid and productive, or are you stuck in a rut? Do members of your condo corporation trust your board, or are people starting to raise questions about how operations are run? Regardless of how well you think your board is currently functioning, it is always a good idea to conduct a thorough, honest evaluation of your board.
Defining Condo Corporation Leaders’ Rights and Responsibilities to Create Better Communities
Posted on Tuesday January 31, 2017
When your condominium board members (and your property management team, if you are working with a professional management company) have a thorough understanding of their rights and responsibilities, it helps to create a more inviting community. Your community is more likely to be effectively managed and well-maintained, which leads to happier residents.