4 Keys for the Successful Management of Condos
As a premier Tampa condo property management company, we know what it takes to manage properties effectively. No matter the size of the community, effective management is the key to success. If your community could use some improvement, we’d like to share four keys for managing condos successfully.
1. RESPONDING RAPIDLY
Are you engaged with your residents? What about potential residents? One of the worse things a condo association can do is fail to respond appropriately to residents which includes speed and professionalism. The longer a problem sits, the more in festers. This can be anything from repair issues, delinquent due payments, or simply responding to calls and emails from potential residents. If you’re too busy, you need someone who can do this for you.
2. BUDGETING WISELY
Lack of budgeting or poor budgeting can place your property at risk for financial problems like tax issues and budget deficits. Competent managers must be able to handle the daily financial operations of the community. Routine responsibilities include: – Annual budgets – Documenting transactions – Collecting dues – Allocating for maintenance and repairs – Planning renovations – Managing taxes – Securing insurance
3. KEEPING UP APPEARANCES
The exterior of a property says a lot about who’s managing the property. Maintenance and repair issues can take your property from a 5-star property to zero within a matter of time. Also a lack of landscaping, poorly painted exterior, and poorly maintained pool is a major turn off for would be residents. It’s crucial that management schedules regular maintenance such as pressure washing the building and cleaning the common areas to keep the property in tip-top shape. Have a database of reputable vendors and contractors on call to keep the appearance of the property impeccable.
4. HIRING A TAMPA CONDO ASSOCIATION MANAGEMENT COMPANY
We are a well-established condo association management company that understands the intricacies of managing condo properties. We handle maintenance, enforce rules and policies, and we mediate resident complaints and issues so you won’t have to. This scratches the surface of what we can do for you. With our expertise, your board will be free to be more effective while your property is managed with greater efficiency.
For information, please call us at (813) 968-5665, or submit our proposal request form.