Part of having a successful condominium community is planning for the future, ensuring that homes are up to date and maintained for years to come. This kind of long-term thinking is essential for completing a variety of capital improvement projects like expanding parking, installing new elevators or adding a clubhouse. For every project, you'll need to have a timeline, an accurate budget and a robust bidding process.
But all of this hinges on having solid short-term maintenance procedures in place. If you can't keep the lawns mowed and the electrical functioning, condo owners aren't going to be happy! Here are five ways to keep routine maintenance running smoothly:
- Find the best maintenance partners: Having trusted partners to carry out maintenance work is essential. Whether it's plumbing, landscaping or snow removal, you want to make sure you're working with trustworthy businesses. This way you'll never have to worry about the work being shoddy or overpriced. Check each company's references, and be sure to verify their insurance and general qualifications.
- Consider bundled services: This option can save money and streamline processes. For example, your landscaper may also offer snow removal services-why not take advantage of this additional capability? This also means you'll develop better relationships with these contractors, and they'll get to know your property better.
- Conduct a study of financial reserves: One way to make sure you don't have a shortfall when accounting for maintenance costs is to keep track of your reserve funds. Keeping a certain amount set aside each fiscal year is crucial for those times when unexpected costs pile up. For example, a severe storm could require significant cleanup that's liable to drain your community's financial resources.
- Create a calendar for maintenance: Making sure that items are checked off regularly is an easy way to avoid future problems. The pool needs to be cleaned and the grass needs to be trimmed frequently during the summer months. More periodic work, like painting building exteriors, should also be done on a regular schedule. Let your contractors know exactly when you need each item completed to keep the property looking attractive and well maintained.
- Carry out routine inspections: This is vital not just for upkeep, but also for maintaining local, provincial and federal permits. You don't want any part of the community going into disrepair. Bring in an inspector to identify cracks in buildings, improper lighting, cracked sealant, plumbing malfunctions and other details that might otherwise go unnoticed. This small-scale preventative action could save you time and money in the long run.
If you have questions about how to best maintain your condominium community, then the experts at Imperial Properties can help. Imperial Properties has developed a strong reputation within Western Canada and beyond for providing sound, effective condominium and residential property management. Our team is a leader in the field because we offer unparalleled management expertise paired with exceptional service, knowledge, efficiency and cost effectiveness to serve our diverse client base. Contact us today to learn more about how we can help you.