Search results for: common
What’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…
Read MoreTop gains condo boards have when they outsource accounting function to a property manager
Condo boards face ongoing challenges as volunteers. No doubt you are fully committed to your role and responsibilities. However, if you lack experience, providing high level service is difficult. As a result, it can interfere with effective financial management that can lead to ongoing challenges. Here we list the top gains condo boards have when…
Read MoreHow To Master Reserve Fund Study Management For Success
A good reserve fund study is one of the best financial predictive tools at your disposal. However, if you take the time to master reserve fund study management it can also help secure the success of your condo board’s performance. Participate in the Process of Reserve Fund Study The best way to master reserve fund…
Read MoreIs condo suite metering right for your condo board?
Suite or sub-metering provides residents with their own electricity measurement. As a result, they pay only for the energy they consume. Sub-metering can also help boards gain more control over energy use in common areas. If your building was built prior to 2010, you should consider the possibility of introducing suite metering. How Suite Metering…
Read MoreHow To Make Your Condo More Cycling Friendly
In Toronto cycling is one of the fastest-growing modes of transportation. In fact in the downtown core 15 to 30% of residents cycle to work. Unfortunately, many downtown condos fail to meet the needs of cyclists. Here’s the challenges cyclists face with ideas to make your condo more cycling friendly. Storage Storage is one of…
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