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Five Proven Ways to Reduce Maintenance Costs for Your Condominium Property

Condo Management Hacks:  Are you a condominium property owner looking to minimize maintenance expenses while maximizing your return on your investment?

Managing a condominium  property comes with its unique set of challenges, and maintenance costs can quickly eat into your budget. But fret not, we’ve got you covered! In this blog post, we’ll explore five effective strategies specifically tailored for condominium property owners and boards to help protect your investment without sacrificing on service.

Discover 5 practical strategies to manage maintenance costs for your condominium investment property. From establishing a maintenance schedule to negotiating better rates, optimize your ROI today!

  1. Establish a Regular Maintenance Schedule

Maintaining a regular maintenance schedule is paramount in preventing unexpected and costly problems in your condominium rental property. By conducting routine inspections and addressing minor issues promptly, you can avoid major repairs down the line. Each condominium is unique, so customize your preventative maintenance schedules to suit your specific situation and property type. Regularily check for plumbing leaks, HVAC system maintenance, pest control, and other necessary activities. Consistently adhering to a preventative maintenance routine significantly reduces the likelihood of unforeseen incidents and minimizes expenses.

  1. Educate Condo Owners on Proper Property Care

While maintenance is typically the responsibility of the condominium corporation, condo owners also have a role to play in keeping the property in optimal condition. Taking the initiative to educate your residents and if possible, their tenants, on the importance of proper property care and maintenance. Provide them with guidelines and recommendations for routine checks and encourage prompt reporting of any potential issues. By fostering a sense of shared responsibility and pride in the community, condo owners are more likely to actively participate in the upkeep of the property. An informed and engaged community contributes to a well-maintained condominium.

  1. Embrace and Encourage Repair and Maintenance Feedback

As a condominium property owner, embracing awareness and reporting even minor repairs and maintenance tasks can save your Condominium Corporation a significant amount of money. Whenever feasible, report small repairs and maintenance issues yourself or encourage their condo owners to do the same. Promptly addressing minor repairs  within individual units such as plumbing leaks can help reduce the need for costly professional services. By acquiring basic awareness of the property, and being resourceful, you can keep maintenance costs at bay while ensuring the property remains in excellent condition.

  1. Negotiate Better Rates with Contractors and Service Providers

Engaging contractors and service providers for repairs and maintenance services can be a major expense for condominium corporations. To optimize your maintenance budget, proactively negotiate better rates whenever possible. Approach contractors and service providers, discuss the potential for discounts, and explore options for long-term partnerships.  By building respectful relationships and effectively communicating your needs, you can secure better service, response times and reduce overall maintenance costs by being on top of your condominiums needs.

  1. Maintain Detailed Expense Records and Stay Organized

Maintaining detailed expense records and staying organized is crucial for effective cost control. Implement a system to track maintenance-related expenses for your condominium property. By diligently recording and categorizing expenditures, you gain valuable insights into spending patterns and identify areas where costs can be reduced. This data allows you to make informed decisions, implement preventive measures, and allocate resources more efficiently. Stay on top of your finances and have a clear overview of your condominium property’s maintenance expenses.

At Emerald Management & Realty Ltd., we specialize in condominium property management, expense reporting and budget PLUS maintenance services. Our experienced team is dedicated to helping condominium property owners effectively reduce maintenance costs without compromising on quality by leveraging our experience in the industry and portfolio under management. If you’re ready to optimize maintenance expenses for your condominium property, please contact us online or call 403-237-8600. However, you can visit our website at to learn more about our services and get in touch with us. We have a team of experts ready to assist you with your condominium property management and maintenance needs.

Emerald Management & Realty Ltd. VOTED Calgary’s Top Choice Property Management Services of 2023

We Did It!!  We are so proud to announce that Emerald Management & Realty Ltd. has been crowned the Top Choice Award Winner – Property Management Company Calgary in the 2023 Top Choice Award Survey and it is all THANKS TO YOU!

This could not have been done without the dedication of our team and for the love from our customers … and for that … we are very grateful to everyone who has support us.  This is the seventh year that Emerald Management & Realty Ltd. has won this prestigious award.  We appreciate all the support of our community and all our valued stakeholders to have been nominated and then to have won this award.

Words cannot express how warm our hearts are from all the support we’ve received from our community! We truly appreciate this recognition and the association with the Top Choice Award Circle of Winners across the country.

All of us at Emerald Management & Realty Ltd. agree that winning the Top Choice Award is one of the most coveted endorsements a property management company and business can received in all of North America, and this victory is a testament to our continued dedication to the consistent pursuit of total customer satisfaction and responsive property management services.

Our warmest congratulations go out to all of the nominees, voting contest winners, and fellow winners for the 2023 Top Choice Awards Survey.  We at Emerald Management & Realty Ltd. would once again like to thank you for voting us your Top Choice Property Management Company in Calgary.  Cheers to a bright 2023!

About Emerald Management & Realty Ltd.

Emerald Management & Realty Ltd. is a family owned and operated Property Management Company in Calgary with 50 years of proven experience. We provide a myriad of management and rental property services for tenants, property owners, homeowner associations, and condominium corporations.

While most of our properties are in Calgary and the surrounding area, we have local, national, and international property investors, who entrust their investment properties to Emerald Management & Realty Ltd. Our proven 50 year history of providing property management and condominium management services has provided the opportunity to acquire invaluable knowledge and experience that can be passed on to our valued client base. Through the hard work of our dedicated team, we have built a strong reputation as one of the best property management companies in Calgary.

What will my investment property rent for?

Thinking about renting out your home, condominium or investment property this spring? Our team at Emerald Management & Realty Ltd. is ready to hop to it and help!

How??? … Super simple: 

(1)  Complete our FREE online Rental Assessment Form to assist us in completing a rental evaluation of your property.

(2) Be available to respond to any clarifying questions regarding your rental property and queries about Calgary property management.

(3) Review the Rental Assessment Report and let us know if you have any questions or concerns!


How to Find Rental Homes in Rural Areas

When thinking about investing in a rental property, most people will automatically turn to urban homes. There is a lot of untapped potential in rural settings as well, though this is often overlooked by investors. That small-town charm can be very enticing and the idea of friendly neighbors and a slower pace is appealing to many people.

The trick is knowing how to find rental homes in rural areas and evaluating whether they will be a promising investment for you. In this article, we’ll break down some ways to find rental homes in rural areas and weigh your options accordingly.

Seek the Help of Reliable Property Management

If you want to find your rural investment property efficiently, it may be best to seek the assistance of a licenced property management or real estate company. They will be able to present you with an assortment of options based on your desired location, budget and timeline. 

Perhaps you are looking for immediate investment opportunities or are wondering how to find cheap rental homes. In these cases, a licenced team can help. They are knowledgeable about rural legislation and will be able to offer guidance and advice in navigating the purchasing and rental process. 

Additionally, if you are looking to have someone manage the rental property for you, they would be able to take care of this. This would be an excellent option to explore if you do not want to search for the property yourself, or if you lack the knowledge to do so.  

Or You Can DIY

Alternatively, you can take on the search yourself. This is often a great way to learn more about the specific properties, the community and pertinent legislation. It is highly recommended that you study your targeted rural area and become familiar with the housing market and local economy. 

The internet is a great resource for finding this information. You can browse through the properties that are for sale to compare statistics and prices. 

It is also a good idea to physically go visit your desired location. Take a drive through the streets, as you may find properties for sale that are not listed online. Or you can stop at the community center or grocery store, as bulletin boards are still often used by people in small towns to advertise. 

It can also be a good idea to get to know the people in the town. There are usually a handful of ‘must-know’ individuals who are familiar with everything that is going on. 

Insurance for Rental Properties

Many people wonder if you need home insurance for rental properties. The answer is YES — you’ll certainly want to have the proper insurance in place when operating a rental property. 

There are a number of landlord policies available that will provide the coverage you need in this situation. This type of insurance often covers the building itself, as well as other structures on the property such as sheds or fences. Landlord insurance also typically provides liability coverage related to renting out the premises. 

For example, if a tenant is hurt in the home and you as the landlord are found responsible, this policy may help cover any resulting medical expenses or legal fees. In Alberta, you can also require that your tenants have renter’s insurance to protect their personal belongings and offer them some liability protection.

Understand Yourself and Your Market

Even if you are an experienced investor and landlord, it’s important to remember that rural rental properties are still quite different from urban ones. There are certainly some advantages, but there is also a different assortment of risks. It is especially important to understand the ins and outs of rural investing and truly have a passion for it. This will result in a far greater return from your investment property.

Contact Us Today

If you live in the Calgary area and are looking to acquire a new rural rental property (or require assistance with managing an existing one), our team at Emerald Management & Realty Ltd. can help. We are a family-owned and operated business with over 40 years of experience in the property management industry. We look forward to connecting with you soon.