How Effective Is Your Condo Security?In this guide the reader is provided with information about loss control issues. The guide is not a substitute for a thorough loss prevention assessment. In those situations where there is a concern about issues raised in this guide the reader should seek professional advice. Apartment style condo building security is …
How Safe Is Your Condominium, HOA, or Strata Building?Safety is one of the key features of a condominium living. One of the reasons why so many families opt for a condo is that they feel secure in the idea of living where there are many others to help them in time of need. Therefore, if …
What Is a Reserve Fund Study?When I tell people what I do for a living, I explain first that I love my job. It incorporates so many different aspects of being outside, doing tons of math, talking to people and educating them. What do I do? I prepare building component and financial audits for condominium …
How To Resolve Common Condo Problems You may believe that volunteering in the board of directors of a condominium complex might be a great experience for you, but the truth is that there are several difficulties that condo boards face from time to time that make the job quite challenging. Disagreements, delinquencies, short-term problems, and long-term …
The Leader Of The Condominium BoardA condo board consists of directors and officers. Directors are those members that are elected by the owners of units themselves, while the officers are people appointed by the board to carry out certain duties.The minimum requirement of a condo board is to have three officers: a president, a secretary …
Being On The Condo Board Can Be Challenging and FrustratingBeing a member of a condominium community’s board of directors is undoubtedly a fantastic experience. However, the position does come with its share of burdens. For starters, disagreements and delinquencies with condo owners on the property are routine issues experienced by the board. Of course, other …
What Are Condominium Fees?A condominium requires each unit owner to pay a certain amount of fees each month. This monthly fee is utilized for any development or maintenance purpose at the condo. First time condo buyers are often unaware of what these condo fees consist of and combined with their property tax and mortgage payments, …
Are There Any Major Differences Between These Terms?People who aren’t aware of the differences between these terms often use them interchangeably. In essence, these terms actually hold a different meaning altogether and people who are interested in buying a dwelling in any one of these associations should have the core understanding of these terms.For the …
Did You Hire The Right Condo Manager?The board of directors of a condominium may consider hiring a property manager to overlook the daily operations of the condo. A property manager is entrusted with the task of collecting common condo fees, keeping the operating records of the condo, responding to any complaints from owners and monitoring …
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