Search results for: common
Top 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…
Read MoreDoes your condo board outsource HR? Maybe it should.
Often condo boards oversee a team employed by the condo corporation. However, when the entire board is involved in HR it can lead to operational disruptions. If your condo board feels it has lost its footing, consider outsourcing. When you outsource HR function to a property management company, you regain control. Effective Hiring, Onboarding and…
Read MoreHow To Help Boards Avoid Condo Envelope Upgrade Disasters
Your condo envelope offers long-term exterior protection contributing to heat retention and energy efficiency. When it comes time for upgrades, your envelope must provide durability, energy efficiency and improved appearance. Here we offer tips to avoid disasters for your envelope upgrade project. Reducing Thermal Bridges Thermal bridges impact a building’s energy efficiency as they allow…
Read MoreHow To Mitigate Risk For Condo Water Damage
Water leaks originating from an owner’s unit can be catastrophic. Leaks can affect multiple units, as well as common areas. Although condo management provides plumbing maintenance and repairs, unit owners share the responsibility to mitigate risk in their own units. Here we look at how collaboration between owners and management can help mitigate risk for…
Read More6 Ways to Reduce Condo Maintenance Fees With an Experienced Management Company
Raising your condo maintenance fees is one of the toughest calls your condo board makes. If you are not working with a property management company, you lack the valuable insight that can actually reduce condo fees. Here are six cost saving opportunities you are missing without the guidance of an experienced property management company. Opportunity…
Read MoreA Board’s Ultimate Guide To Condo Parking Garages
Your condo parking garage has structural and water management components requiring maintenance. Understanding the most common components makes it easier to plan your maintenance budget. Here we provide your ultimate guide to common parking garage components and risks. Understanding Condo Parking Garage Slabs In most cases you will have a combination of the following “slabs”:…
Read MoreCondo Crime: Why Condo Boards Need to Keep Their Eyes on Local Crime
Although condo crime – as in apartment break-ins – is 60% less common than townhouse complexes, condo common areas are easy targets. Thieves can access vehicles, lockers, bikes, and more all under one roof. Therefore, board members should keep their eyes on local crime to understand how to keep the building secure. What Types of…
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