A poorly managed condo community is often the result of it being self-managed by owners or worse, an inattentive Tampa condo property management company. Either can create a host of problems including financial and maintenance related.
The Consequence of Poor Management
The way a condo community is managed can have a major impact on the owners and the long-term stability of the community. The difference between a soon-to-collapse community and one that has reserves in the bank is all about how it’s managed. Poorly managed condos can decrease unit and overall property values. Poorly maintained properties decrease buyer appeal and limit the type of lenders that are willing to provide loans.
It’s All About the Details
Overflowing dumpsters, weed-filled lawns, ancient paint jobs, trash-littered sidewalks, an inoperable playground, and dirty staircases—the list goes on. What does a continuously out of order pool or gym say about your community? It says that your Tampa condominium property management company doesn’t care about the appearance of the community, it doesn’t care about its residents, or it could be that money is so tight that community upkeep suffers.
What Good Property Management Looks Like
A professional Tampa condo property management company can make all the difference and can become a great asset to your community. One of the greatest advantages of hiring a professional condo property manager is having access to the wealth of knowledge and experience they offer. They provide guidance to the association and help make sound business decisions. Benefits of hiring an experienced company include consistent and well-maintained property and repairs, improved vendor services and performance, enforcement of condo rules, tenant compliance as well as optimized budgets, bookkeeping, and recordkeeping.