Search results for: common
10 Ways Your Condo Board Can Beat the Odds and Get Enough Insurance
The condominium corporation insurance market is experiencing a watershed moment as more insurers remove condo insurance from their offering. Those that still offer condo corporation insurance are either increasing their premiums and deductibles or making it impossible to obtain insurance altogether. Here we share 10 ways your board can beat the odds and get enough…
Read MoreHow, why, and when is the right time for Condo Boards to implement new policies?
Your condo corporation’s policies ensure your board meets your obligations. However, because the Condo Act does not refer to policies per se, new policies might cross the line between a policy and rule. A policy is board directed, while rules require resident input and votes. Here we look at condo board policies and how, why,…
Read More5 Telltale Signs Your Condo Isn’t Managed Properly
Proper condo management ensures both the physical and financial health of the condo corporation is protected. Here we share five telltale signs your condo isn’t managed properly. 1. They Fail to Respond to Emergency Maintenance Issues What often separates good condo management from bad is their ability to respond to emergency maintenance needs. This would…
Read More7 Innovative Ways Your Condo Board Can Greatly Improve the Safety of Your Condo
Crime in condo towers tends to occur in common areas, including garages, elevators, hallways, and stairwells. These areas are visually isolated, making them more vulnerable. Here we look at seven ways your condo board can greatly improve condo safety. 1. Install Closed Circuit Television (CCTV) CCTV is the best way to monitor visually isolated areas…
Read MoreWhat’s a Condo Communication Strategy, and Should You Have One?
A condo communication strategy creates trust between the board, residents, and property management. It ensures transparency for all condo board decisions while creating a two-way, ongoing communication stream. Here’s why your condo community needs a condo communication strategy. What is a Condo Communication Strategy? A condo communication strategy sets goals and objectives for board communication.…
Read More5 Simple Condo Management Cost-Saving Opportunities Sure To Future-Proof Your Condo Finances
Condo management calls for smart budgeting to maintain strong financial health. Here we look at five condo management cost-saving opportunities to future-proof your finances. 1. Adopt a Predictive Maintenance Plan Effective condo management begins with predictive maintenance planning. You can see substantial savings when you protect your assets instead of relying on reactive maintenance. In…
Read MoreEvery Condo Board’s Guide to the Proportions of Costs for their Condo Corporation
The monthly common element fees (CEF) your condo board collects come with an obligation to your unit owners. Your job is to ensure you allot those funds properly to cover expenses and manage your reserve fund effectively. Here we offer a comprehensive guide to help you understand the average proportion of cost allotments for a…
Read MoreRoof Replacement: How to Know When Your Condo Board Needs to Invest in a New Roof
Preventative maintenance plans and ongoing repairs help keep your roof in good condition. However, there will come a time your condo board must invest in a roof replacement. Here we explain how to know when your condo needs a new roof. Roof Inspections Roofs have several layers, including insulation, vapour barriers, and surfacing. As the…
Read MoreWays an Experienced Property Management Company Can Lower Condo Maintenance Fees for Its Owners
Monthly maintenance fees can indirectly effect condo property values. High fees can often discourage buyers, which decreases demand for units in your building. However, there are ways you can lower condo maintenance fees by working with an experienced property management company. Here’s how they can help. Improving Energy Efficiency Property managers conduct energy audits to…
Read MoreWhy Your Condo Board Is Missing The Boat Without A Preventative Maintenance Plan
Preventative maintenance plans allow your condo board to shift from short-term repairs to long-term improvements. While you still conduct the work in small increments, you manage it in a smarter, more cost-effective way. Here’s why your condo board is missing the boat without a preventative maintenance plan. You Become Proactive, Not Reactive Preventative maintenance plans…
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