Tips to help you maintain a condo building

Managing your own condos is a lot of work. This is why most property owners prefer to hire landlords and property managers. It does not come easy for them; it takes so much more for them to manage a condo. There are challenges and expectations that come with managing a condo. A lot is expected from the manager by both the tenants and the condominium owners. With a lot of experience, you can make it work.

Below are some few professional tips to help you manage a condominium unit

Regular inspections

Holding some timely inspections on the property will keep you and the owners from experiencing extreme damages and some legal charges. For instance, ignoring the inspection of the fitness center, sprinklers, fire exits or fire extinguishers may cost you during emergencies. The first step is to create an inspection calendar and ensure you have them set up before hand.

Take preventive measures

Taking a preventive measure to some of the important parts of the condos will help you prevent expensive repairs and major problems. Ensure you hire professionals to check out the air conditioning and heating systems in the condos as well as the plumbing, floors and walls.

Clear all the issues on time

You main job as a building manager is maintenance and keeping up with any requested repairs. There are rules set in place for the tenants in the condo. Whenever an issue arises, they report it to the building manager who inspects the building and hires professional help to fix it. Ensure you keep up with the rules to prevent them from overshadowing each other.

Pay attention to every section of the condo building.

Some of the common issues you can find in condo buildings are old faded or dirty carpets and clogged ventilations. Ensure you do a regular clean up of the carpets, replacing the old and torn ones once in a while.  Clogged ventilations can be an accident hazard, ensure you hire professionals to clear them.

Maintaining the plumbing system can make a big difference; hire a professional plumber to clear and change all the condo’s major sewer lines and drain pipes every year. Along with managing basic issues like the drainage, slow and pudding, ensure you regularly check up on things like sidewalk damages, wall cracks and uneven surfaces to keep the building looking new and neat.

The security should be a priority

One issue of people living in community areas is vandalism or theft. As the manager, you are obligated to take care of the property, tenants and their belongings. Hire the best security and position them in the main gates and parking lot.

The final word

Taking care of a condo may differ depending on the area. In some places, pests are a really common issue. In this case, you should hire some professionals to keep all kinds of insects contained. Carry out an annual inspection to make sure all parts of the building are in perfect condition. always keep the place ready for any kind of emergency or natural disasters.

This is why you should own a luxury condo

Condominiums are convenient, cheap and a smart idea for new home owners. Many people prefer condos because they cost less than the average family home and come with interesting amenities. In most urban centres, they are conveniently located in secured communities. You can find a swimming pool, parking, fitness center and animal park as common luxuries.

Here are the top reasons you should go ahead with that luxury condo purchase

Condos offer great amenities

Most condo developers often build homes with access to very luxurious amenities that are not common or affordable in family homes and individual home owners. Depending on the location of the condo, you can have access to a pool, tennis court, golf course, fitness location and a clubhouse. These amenities may be shared, but a maintenance crew is provided to keep them clean and convenient for the condo owners.

The strong sense of community

If you are a people person, you will find that condos have great neighbourhoods and a strong sense of community among the people. Some developers may build few condo units while other have them in high numbers, but you can chose one that is more convenient for you. when looking for a condo that will offer you a strong sense of neighbourhood, check out for those that  provide you with social events.

Most condos are built on desirable locations

Condominiums are built in luxury locations that can provide you with a cool lifestyle at a low cost. Unlike family and individual houses, luxury condos can be built on luxury locations and still come at a cheaper price. for instance, family homes built at the beach or near big cities will cost you so much more as compared to the luxury homes.

Buying a condo is a good form of investment

Some people buy houses in the hopes that they appreciate in value with time and they can use it as a form of income. Condos may appreciate in value at a lower rate than family and individual homes, but they are a great source of rental income. If you are interested in condos as an investment, you can choose to exhaust its income potential by renting out the property. You don’t have to rent the condo full time to earn some income from it. During the holidays, many people are interested in renting out condos near beaches, resorts and other recreational places.

A condo is very easy to maintain

One of the best pros of owning a condo is that they are easy to maintain.  You are not responsible for the maintenance of the common areas, amenities and the building. You have all the freedom and time to take care of your own personal space. All you have to do is pay a monthly maintenance fee and the areas around your condo are taken care of.

Finally, condos are much cheaper compared to most real estate property. Although condos may have fewer bedrooms or may be smaller in size, they are cheap and convenient for individuals and very small families.

Sell or rent? What should I do with my luxury condo when I move?

Buying a condo is very convenient, they are cheap and the space is enough for individuals and small families not to mention all the amenities you can find in a luxury condo. Most modern condos have an access to a pool, tennis court, golf course, fitness location and a clubhouse. When you work on a job that required you to move around or relocates, it is hard to keep up with the maintenance and the development fees in the community area.

The hardest part about owning a condo is when you have to relocate for either a job or your family.  Moving out will require you to make plans and find solutions beforehand. What make it even harder making the choice between selling your condo or renting it out. Your decision will be base on you, your condo association regulations and the local real estate market.

Selling the condo

When relocating, there is a lot you will have to look at and consider before selling the home. Owning a condo can be convenient until it’s time to give it up. Some locations have a slow market for a condo while in others; it can sell as fast as within two months. If you live in a slow market location, it will be harder for you to sell the condo, especially when the pricing of the real estate is high. Id the market is fast and you are looking to sell the condo, then you might have huge advantages.

Renting the condo

When the market is slow and you are having a difficult time trying to sell it, you have no other option but to rent it out. Selling the home can be quite difficult when the move is immediate and you have no time to prepare it for a sale. It may also e a good idea if you are looking to take advantage of the income potential of the condo and increasing the equity of the property.

If you are hiring it out, you would have to get a property manager or a landlord to take care of the property and the tenants. In this case, your finances will determine whether renting the home is right for you. Renting can also be a good idea when the income you receive will cover all the maintenance costs and still leave you with some profit. If you have the condo on mortgage, ensure the income also covers all the monthly payments so you won’t lose everything.

How to make the decision

Keep in mind that the homeowners association in your community may have strict rules about renting out your property. When you completely own the condo or don’t have any remaining mortgage to pay, making a decision to sell or rent may be easier. There are minimal financial issues holding you back from making a decision. Whether you decide to sell or buy it, ensure you have all the community association rules read out to your clients before they make the purchase.

Follow these steps for the perfect open house

When you are selling your condo, there are several procedures you should follow one of them being putting up an open house for the sellers. Open houses allow you to give a preview of the condo to your potential sellers and also provide them with an opportunity to make a decision based on their personal experience of the home. You can make an open house easier by getting an agent to help you with the preparation. Whether you are with a professional agent or not, it is important to know the basics of the open house so you can have a part in the selling of the home.

Below are some tips to help you hold the perfect open house

First impressions are everything

If you don’t catch the eye of the buyer with a first impression, you will have a minimal chance of getting a good offer. The first thing that a client or potential buyer will see when they come to the open house is the landscaping. For normal houses, you can freshen up the curb appeal by growing fresh flowers and evening out the landscape but for condos you will have to work with the front door and balcony

Clean your condo

Maintaining a condo is not hard, the space is not too big and the exterior of the home is maintained by the homeowners association. Inspect the property for any unseen stains and ensure you clean them up. Focus on the kitchen and the washrooms.

De-clutter the home

When the house has too much stuff, it looks untidy and unappealing. A spacious home looks more lively and clean. Ensure you get rid of all the clutter by putting them in boxed and giving them away or selling them. De-cluttering your condo will make it look more specious, clean and new.

Don’t forget to get rid of your personal items

When buyers walk into an open house they want to visualise themselves as the owners. If your condo is full of family pictures or personal items like trophies, it will take away from that. Ensure you clean up your home off all the personal items by arranging them in boxes and moving them into your new home. Don’t create more clutter by moving them into another room. Pets like dogs and cats may mess up the home viewing, so ensure they are not in the condo during the open house.

Stage your furniture

A modern look is more appealing to buyers, especially those looking to own a condo. Ensure you change the designs of the chars and cabinets, get bright colored curtains and drapes and paint the walls to a bright desirable color. More light in your condo will give it a brighter more specious look.

Marketing is an important aspect of your open house

Ensure the open house is listed in several listing websites, advertise it on your social sites and get your real estate agent to put up signs about the open house. Remember to give the potential clients a chance to look through the home on their own. Refreshments are also a good idea for the guests.

Amenities you should ignore when buying a luxury condo

When you think about a luxury condominium, you picture as many amenities as you can especially if the seller is asking for an excessive price. Sometimes we are carried away by the excellent advertisement skills of the sellers that we fail to notice that they are just trying to sell us a commodity. Basically, luxury condos have some basic amenities installed for an extra fee. Some sellers will try to add some additional unnecessary amenities at an extra cost. Before you pay for a condo, you should inspect on the cost and amenities offered; you will realise that some of them are not as important as they seem.

Here are some few luxury amenities you don’t really need when buying a luxury condo

Superfluous amenities

First time buyers are really carried away by the frivolous amenities. Things like common entertainment rooms, champagne rooms, lobby breakfasts, massage rooms, common library areas, pet spas and other luxuries sound really great but they are just an extra expense. First ask yourself how bad you need these kind of luxuries and if you have enough spare time to spend in any of them regularly.

Excessive outdoor space

For nature lovers, an outdoor space sounds interesting especially when it comes with a condominium. If you have pests, you can walk them outside or let the play in the space but you can both live without it. For some owners, you can pay up to 30% of the property price to get an extra outdoor space.

Finishes and fixtures

Some sellers will sell you a condo at a higher price because the fixtures and finishes look like they can qualify as pieces of art. Although these types of fixtures are attractive in the home, they will cost you a lot. The issue is, the fixtures in that condo may be taken off by the next owner. Buy homes with quality fixtures that are affordable.

Space age materials

Nowadays, most condo owners build their homes with engineering materials that are made in factory. These materials may look good but the issue is, they are not real. The best you could do is avoid any unfamiliar materials and go for high quality and timeless products like natural wood , metals and stone on your floors, wall and ceiling.

The doorman

We all agree that the security of your home is very important. You should check out for security forces outside the main gates and in the parking spaces among other areas. What is the real work of a security guard? They specialise in receiving mails and guests and may also work as your concierge. You don’t really need to pay extra for thus type of service.

Valet parking

Even though it is very luxurious to have a valet when you have guests over, you do not really need it. You should check out for your parking needs before anything. Before you pay for a luxury home, check out for a secured parking that is of close proximity to your home and easy to access. f����3