Search results for: special assessment
How Your Board Can Ace Project Management with These Condo Renovation Strategies
Condo renovations can become nightmares when condo boards fail to manage the project effectively. However, your board can ace project management with these condo renovation strategies. Plan Out the Critical Steps Building restoration and renovations follow several steps, each with an approximate timeline: Assessment to determine what the project involves (Up to a month) Initial…
Read MoreEvery Condo Board’s Guide to the Proportions of Costs for their Condo Corporation
The monthly common element fees (CEF) your condo board collects come with an obligation to your unit owners. Your job is to ensure you allot those funds properly to cover expenses and manage your reserve fund effectively. Here we offer a comprehensive guide to help you understand the average proportion of cost allotments for a…
Read MoreWays an Experienced Property Management Company Can Lower Condo Maintenance Fees for Its Owners
Monthly maintenance fees can indirectly effect condo property values. High fees can often discourage buyers, which decreases demand for units in your building. However, there are ways you can lower condo maintenance fees by working with an experienced property management company. Here’s how they can help. Improving Energy Efficiency Property managers conduct energy audits to…
Read MoreWhy Your Condo Board Is Missing The Boat Without A Preventative Maintenance Plan
Preventative maintenance plans allow your condo board to shift from short-term repairs to long-term improvements. While you still conduct the work in small increments, you manage it in a smarter, more cost-effective way. Here’s why your condo board is missing the boat without a preventative maintenance plan. You Become Proactive, Not Reactive Preventative maintenance plans…
Read MoreTop 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 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 MoreCondo Trends: The 5 Hottest Trends for Condo Boards
Condo boards can look to changing condo trends to help maintain efficient, cost-effective industry best practices. Here we look at the five most compelling trends your condo board can embrace right now. 1. Integrated Technology Facilitating improved responsiveness and effective processes for both staff and residents requires integrated technology. Many condos are functioning with a…
Read MoreThe 4 Most Revealing KPIs Every Condo Board Should Track To Avoid Disaster
The financial and physical health of your condo depends on your board’s management. One of the basic management best practices boards tend to overlook is using key performance indicators (KPIs and more specifically condo KPIs) to measure their success. Does your board measure and track the success of your condo corporation? Here we list four…
Read MoreProperty Management Services
Property Management Servicesin Toronto & the GTA Toronto Property Management Company CPO Management Inc. is your professional full-suite property management company Toronto trusts for residential and commercial condominiums as well as shared facilities. With almost 20 years in the industry, we are recognized as an experienced, trusted, and loyal partner to our clients. REQUEST A…
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