Common Issues Faced by Condo Boards
Being a member of a condo board can be an exciting role that will empower you to influence the quality of life of the condo residents positively. However, it can also feel like an overwhelming task with a never-ending list of issues to address – owner concerns, insurance claims, fees, financials, tradespeople scheduling, seasonal projects, and more. Board members need to have highly efficient time management skills and be adept problem solvers which isn’t always easy; partnering with a professional and licensed condominium management company is the way to go!
We understand firsthand the complexities and challenges that condo boards experience. This handy guide will assist condo boards in successfully navigating three of the most common issues they will encounter.
Miscommunication With Condo Owners
Without a healthy relationship between the condo board and residents, your role will be a nightmare. It is crucial that you maintain a professional condo board corporation and openly welcome regular communication with residents.
The best condo managers are people-persons. Owners value positive and respectful communication. They value timely responses and knowing that their confidential information is being handled in accordance with local laws and regulations
It is common for residents to fail to read notices, misinterpret them, or, unfortunately, not follow the rules. This is not necessarily a reflection on the ability of your condo board, but what is important is how you respond to these instances. Clear, concise written language, a positive attitude, and an openness to feedback and opinions makes all the difference.
To reduce miscommunication between board members and residents, maintaining open communication channels is essential. Residents want to be heard, and they need a platform to express their concerns through. By effectively managing your communication channels, you will experience far fewer negative interactions.
Time Management Problems
Condo boards often struggle to understand the reasoning behind certain practices. implemented by the condominium management company they work with. This disconnect typically stems from understanding the regulations and industry standards condo management companies must adhere to.
Challenges, emergencies and regular reporting must be managed. Condominium management is rewarding for those who enjoy problem solving and enhancing the lives of people right where they live and work. To effectively manage time and expectations, it’s important to adopt a service-first mentality in order to balance owner expectations and emergencies that are disruptive to regular schedules and the best laid plans.
Budget Shortcomings
Budget shortcomings tend to be a major source of friction between board members and residents, and it is a difficult obstacle to navigate. Tension between residents can even occur when they feel that someone else is not contributing their fair share.
Make sure you promptly follow up on delinquent payments and reduce any unnecessary condo board expenses; this will provide additional cash flow. You can consider a slight increase in condo fees, but you must approach this strategically, as it won’t often earn you much praise from residents. Emergencies will occur that will require extra charges – it’s not ideal, but it is unavoidable sometimes.
Establishing a balanced budget and sticking with it will drastically improve the operation of your building. Additionally, partnering with a licensed condominium management company whose fees and service levels are in line with your budget is critical.
Assistance for Condo Boards in Calgary
Condo boards face a plethora of difficult and ongoing tasks. While it is simple to make suggestions for improvement, implementing that advice is easier said than done. If you aren’t already working with a condominium management company or seeking a new professional management partner, we can help!
Effective December 1, 2021 Emerald Management & Realty Ltd. expanded its suite of property management services to include licensed condominium brokerage. Emerald’s condominium managers have also been licensed by the Real Estate Council of Alberta (RECA). Emerald Management & Realty Ltd. is a full-service property management company and proud of its experience providing condominium management services to condominium corporations for close to 30 years. Emerald Management & Realty Ltd. is a condominium management company that offers specialized services for condo buildings in Calgary and the surrounding areas.
Our expert team’s experience is built on professional licensing and has been licensed for several decades with RECA in property management, managing residential investment rentals, apartment buildings, rental pools, homeowner’s associations, in addition to resident and commercial condominiums. Our team has the experience and solutions to drastically alleviate your condo board’s workload, allowing you to focus on more important issues.
Visit our website or call us today at 403-237-8600 for more information about our services.
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