Construction inflation is putting pressure on condo boards to find strategies to make up for significant cost increases in refund studies. Inflation could mean making some hard decisions, including introducing common element fee increases or special assessments, putting further financial strain on condo owners. Here we offer tips to help your condo board prepare for…

Nuisance alarms are not just inconvenient. They can have long lasting repercussions that can lead not only to lost money, but also lost lives. Here’s how management of nuisance alarms can save money while helping to keep your community safe.  The Impact of Nuisance Alarms False fire alarms or “nuisance alarms” in condominiums impact your…

Exterior building restoration is a capital project requiring careful budgeting. However, where many condo boards go wrong is sacrificing quality to save money. As a result, they face additional costs in material repairs and replacements down the road. Here, we share practical money-saving building restoration tips that save money in the short and long term.   …

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…