#Handling special assessments in condominiums

[andrewjbernhard]

Condo Association Board Guide to Defending Special Assessments: From 40-Year Recertifications to Reserve Shortfalls

In our latest blog post, we dive deep into: 🔹 Why Special Assessments May Be Necessary. 🔹 Defending the Decision - Tips. 🔹 Navigating 40-Year Recertifications. 🔹 The Business Judgment Rule.

Introduction Condominium living in Florida offers a blend of convenience and community but comes with its own set of complexities, especially when it comes to managing finances. One of the most contentious issues that condo associations can face is the imposition of special assessments. These additional fees are levied on unit owners to cover unexpected expenses or major repairs not included in…

[parterreproperty]

How Condo Property Management Services Help with Long-Term Capital Planning

Effective long-term capital planning is crucial for condominium owners and boards who aim to maintain and increase the value of their property over time. Condo property management services play an essential role in this process, providing expert guidance, financial forecasting, and management solutions to ensure the long-term sustainability of condominium investments. In cities like Calgary, where the real estate market is competitive and dynamic, having the right condominium management team in place can make a significant difference in the financial health of a condo development.

Comprehensive Financial Assessments

One of the key ways that condo property management services assist with long-term capital planning is through comprehensive financial assessments. These assessments provide a clear picture of the current financial standing of the condominium, allowing boards to make informed decisions. A well-managed condo requires accurate and realistic budgeting for regular expenses, as well as strategic planning for major capital expenditures, such as roof repairs, window replacements, or structural improvements.

Condominium management in Calgary can often involve working with older buildings that require careful planning to address ongoing maintenance and upgrades. Through financial forecasting and cost projections, condo management teams help boards anticipate future expenses and avoid unexpected financial strain on owners.

Reserve Fund Studies and Maintenance Planning

A key component of long-term capital planning for any condominium is the reserve fund. Condo property management services assist in the creation and maintenance of a healthy reserve fund, which is crucial for covering the major repair and replacement costs. In Calgary, where weather conditions can accelerate wear and tear on buildings, having a well-planned reserve fund is especially important.

Professional condo management teams conduct or coordinate regular reserve fund studies to evaluate the lifespan of building components and estimate future costs. This helps the condo board stay proactive in setting aside sufficient funds for necessary repairs and renovations. By having a well-maintained reserve fund, the condominium can avoid costly special assessments or sudden spikes in condo fees, both of which can deter potential buyers and reduce property value.

Strategic Capital Project Management

Capital projects, such as significant renovations or infrastructure upgrades, require careful planning and execution. Condo property management services bring invaluable expertise to the table when it comes to managing these large-scale projects. By overseeing the bidding process, securing contractors, and ensuring that projects are completed on time and within budget, condo management teams protect the financial interests of the condominium owners.

In Calgary’s fast-evolving real estate landscape, condo management professionals are equipped to handle the complexities of local regulations, zoning laws, and environmental considerations, ensuring that all capital projects comply with the relevant standards.

Enhancing Property Value and Marketability

Well-executed long-term capital planning directly influences the overall value of a condominium. Condominium management teams work closely with the board to make informed decisions that enhance the property’s appeal to current residents and potential buyers. Regular maintenance, strategic upgrades, and a stable financial structure all contribute to boosting property values. In the competitive Calgary market, where condominium developments are abundant, a well-maintained property stands out as a desirable investment.

Conclusion

Long-term capital planning is essential for the sustained financial health of any condominium. Condo property management services play a critical role in guiding this process, offering expert advice on financial forecasting, reserve fund management, and capital project execution. By partnering with an experienced condominium management team in Calgary, condo boards can ensure that their property remains well-maintained, financially stable, and attractive to future buyers for years to come.

[joellebitar43]

Real Estate Investment in Montreal with Joelle Bitar

Investing in real estate has long been considered a reliable way to build wealth and achieve financial stability. Among the various options available, investment properties stand out for their potential to generate steady income and appreciate over time. Whether you’re a seasoned investor or new to the field, understanding the fundamentals of investment properties with Joelle Bitar, renowned real estate broker, can help you make informed decisions and maximize your returns.

What Are Investment Properties?

Investment properties are real estate assets purchased with the intention of generating income or profit. These properties can include residential rentals, commercial spaces, vacation homes, and more. Unlike primary residences, which are purchased primarily for personal use, investment properties are acquired to earn returns through rental income, property appreciation, or both.

The Appeal of Investment Properties

Investing in real estate is a proven strategy for building wealth and securing financial stability. Investment properties, especially in a thriving city like Montreal, offer numerous benefits, including:

Steady Income Stream: Rental properties provide a consistent passive source of income. With the right location and property type, investors can enjoy reliable monthly returns.

Appreciation Potential: Real estate generally appreciates over time. Strategic investments can result in significant value increases, leading to substantial long-term gains.

Diversification: Real estate investment adds diversity to your investment portfolio, reducing risk by spreading assets across different portfolio types.

Tax Advantages: Investors can benefit from tax deductions on mortgage interest, property taxes, operating expenses, depreciation, and repairs.

Joelle Bitar RE/MAX: Your Ideal Partner in Real Estate Investment

Joelle Bitar, leader of the #1 team at RE/MAX Action three consecutive years, is dedicated to helping investors find high-quality properties that align with their financial objectives. With a deep understanding of the Montreal real estate market, Joelle and her team specialize in connecting clients with a range of investment opportunities, from residential and commercial properties to vacation rentals. Whether you’re a seasoned investor or just starting, our expertise ensures you make well-informed decisions that maximize your returns.

Why Invest in Condominiums?

Condominiums represent an excellent investment opportunity for several reasons:

Prime Locations: Condos are often situated in desirable urban areas, close to amenities, public transportation, and entertainment options. This high demand translates to higher rental yields and appreciation rates.

Low Maintenance: Condos typically come with lower maintenance responsibilities compared to single-family homes. The condo association handles exterior upkeep, which simplifies property management for investors.

Amenities: Modern condos offer attractive amenities such as gyms, pools, and communal spaces, making them appealing to renters and increasing their marketability.

Security: Condos often provide enhanced security features, including gated access and on-site security personnel, which can attract tenants seeking a safe living environment.

Maximizing Your Investment with Joelle Bitar

Here are some tips to maximize your real estate investments:

Research the Market: Understand local real estate trends, economic conditions, and demographic shifts to identify high-potential areas.

Evaluate Property Values: Assess current property values and future appreciation potential. Look for properties in up-and-coming neighborhoods.

Location, Location, Location: The location of a property significantly impacts its value and rental income potential. Look for properties in areas with strong job markets, good schools, and desirable amenities.

Understand Your Finances: Calculate potential rental income, expenses, and financing options. Ensure the investment aligns with your financial goals.

Consider Professional Management: Hiring a property management company can streamline operations and improve tenant satisfaction, especially if you own multiple properties.

Conclusion

Investing in real estate can be a rewarding venture, offering both immediate and long-term financial benefits. However, like any investment, it requires careful planning, research, and management. By understanding the basics of investment properties and implementing sound strategies, you can build a successful real estate portfolio that contributes to your financial goals. Whether you’re looking to generate rental income, benefit from property appreciation, or diversify your investments, real estate offers a range of opportunities for growth and prosperity.

Joelle Bitar is committed to helping you navigate the complexities of real estate investment at every time of the year. Whether you’re a seasoned investor or just starting, we provide the insights and support needed to succeed. Contact us today!

[condojourney]

 What are the advantages and disadvantages of owning a condo?

Owning a condominium, or condo, presents both advantages and disadvantages that individuals should consider when weighing their housing options. Let's explore the pros and cons of condo ownership.

Advantages:

Affordability: Condos often provide a more affordable entry point into homeownership compared to single-family homes. With lower purchase prices and potentially lower maintenance costs, condos can be an attractive option for first-time buyers or those looking to downsize.

Amenities: Many condo complexes near me offer a range of amenities such as swimming pools, fitness centers, community rooms, and landscaped grounds. These amenities enhance residents' quality of life and provide opportunities for recreation and socialization without the need for additional membership fees.

Maintenance: One of the primary advantages of condo ownership is the reduced maintenance burden. Condo associations typically handle exterior maintenance tasks such as landscaping, snow removal, and building repairs. This allows homeowners to enjoy a maintenance-free lifestyle and avoid the hassle of exterior upkeep.

Security: Condo complexes often feature security measures such as gated entrances, surveillance cameras, and on-site security personnel. These security features provide residents with peace of mind and may contribute to a greater sense of safety and security within the community.

Community Living: Condo living fosters a sense of community and camaraderie among residents. Shared common areas and organized social events provide opportunities for interaction and connection with neighbors, creating a tight-knit community atmosphere.

Disadvantages:

Homeowners Association (HOA) Fees: Condo owners are required to pay monthly HOA fees to cover the costs of maintaining common areas, amenities, and building insurance. These fees can vary widely depending on the size of the complex and the amenities offered, adding to the overall cost of homeownership.

Lack of Control: Condo owners have limited control over decisions made by the condo association, which governs rules and regulations within the community. Changes to HOA policies, assessments for major repairs or improvements, and restrictions on property use may impact homeowners' autonomy and flexibility.

Rules and Restrictions: Condo associations enforce rules and regulations governing various aspects of condo living, including pet restrictions, noise policies, and architectural guidelines. These rules may limit homeowners' ability to customize their units or make changes to the property, leading to a loss of individual freedom.

Potential for Special Assessments: In addition to monthly HOA fees, condo owners may be subject to special assessments for unexpected repairs or capital improvements within the complex. These assessments can be significant and may place financial strain on homeowners, especially if they occur unexpectedly.

Limited Appreciation Potential: Condos may appreciate in value more slowly than single-family homes, particularly in markets with an oversupply of condo units. Limited land availability and dependence on market demand can constrain the appreciation potential of condos compared to detached homes.

In summary, owning a condo offers several advantages, including affordability, amenities, reduced maintenance, security, and community living. However, condo ownership also comes with drawbacks such as HOA fees, lack of control, rules and restrictions, potential for special assessments, and limited appreciation potential. Prospective condo buyers should carefully weigh these factors and consider their individual lifestyle, preferences, and financial situation before making a decision.

[growcapitalgroup]

Multifamily Investing Firm | Passive Income Investments

A multifamily investing firm is a company that specializes in acquiring, managing, and/or developing multifamily properties such as apartment buildings, townhouses, or condominium complexes. These firms typically pool funds from multiple investors to purchase or develop large-scale residential properties, aiming to generate rental income and potentially achieve appreciation in property value over time.

Investing in a multifamily property through such a firm can offer several potential benefits:

Diversification: Investing in multifamily properties can provide diversification within the real estate asset class, as well as within a broader investment portfolio. Multifamily properties can offer a hedge against market volatility and economic downturns.

Economies of Scale: Multifamily properties benefit from economies of scale compared to single-family homes. Operating and maintenance costs per unit are often lower, and rental income from multiple units can provide more stable cash flow.

Professional Management: Multifamily investing firms typically have professional management teams that handle day-to-day operations, including tenant management, property maintenance, and financial reporting. This can make the investment more passive for individual investors who may not have the time or expertise to manage properties themselves.

Income Generation: Multifamily properties can generate regular rental income, providing investors with a source of passive income. This income can be used for ongoing expenses, reinvested for growth, or distributed to investors as dividends.

Potential for Appreciation: In addition to rental income, multifamily properties have the potential to appreciate in value over time, especially if located in high-demand areas with growing populations and limited housing supply.

When considering investing in a multifamily property through a firm, it's essential to conduct thorough due diligence:

Research the Firm: Research the track record, experience, and reputation of the multifamily investing firm. Look for firms with a history of successful investments and satisfied investors.

Understand the Investment Strategy: Understand the firm's investment strategy, including the types of properties they target, their approach to property management, and their projected returns.

Assess the Risks: Consider the risks associated with investing in multifamily properties, such as vacancy rates, maintenance costs, regulatory changes, and market conditions.

Review the Terms: Carefully review the terms of the investment, including fees, distribution policies, and exit strategies. Understand how and when you can expect to receive returns on your investment.

Consult with Professionals: Consider consulting with financial advisors, real estate attorneys, or other professionals who can provide independent advice and help you evaluate the investment opportunity.

Overall, investing in multifamily properties through a reputable firm can be a viable way to generate passive income and build wealth through real estate. However, it's essential to approach such investments with caution, conduct thorough research, and seek professional guidance to make informed decisions.

[kellerenginnering-blog]

How to Choose the Right Engineering Consulting Firm for Your Reserve Fund Study

Introduction

For condominium boards, co-op associations, and property managers, planning for the future is essential. One crucial aspect of this planning is conducting a Reserve Fund Study, which assesses the condition of a property and its components while estimating the funds needed for future repairs and replacements. Choosing the right Engineering Consulting Firms Toronto to perform this study is paramount. In this blog, we will guide you through the steps to select the best engineering consulting firm for your Reserve Fund Study.

1. Define Your Needs and Goals

Before you start your search, it's crucial to have a clear understanding of your needs and goals for the Reserve Fund Study. Consider factors such as the size and type of property, the scope of the study (including common elements and exclusive-use areas), and any specific concerns or priorities.

2. Research Potential Firms

Start by compiling a list of engineering consulting firms in your area that specialize in Reserve Fund Studies Calgary. You can ask for recommendations from industry peers, check online directories, or contact your local engineering association for referrals. Ensure that the firms you consider have experience with properties similar to yours.

3. Verify Credentials and Experience

Once you have a list of potential firms, it's essential to verify their credentials and experience. Look for the following:

Professional Engineers: Ensure that the firm's engineers are licensed professionals with expertise in building evaluations and Reserve Fund Studies.

Experience: Review the firm's track record in conducting Reserve Fund Studies for properties similar to yours. Ask for references and case studies.

Insurance: Confirm that the firm carries professional liability insurance to protect against errors and omissions.

4. Interview Potential Firms

Narrow down your list of candidates and schedule interviews with the top firms. During the interviews, ask questions such as:

How do you approach Reserve Fund Studies, and what is your methodology?

Can you provide a detailed outline of the study process, including timelines and milestones?

What technology and tools do you use for inspections and evaluations?

Do you have experience working with our type of property or similar communities?

Can you provide examples of past Reserve Fund Studies you've conducted?

How do you handle unforeseen issues or changes during the study process?

What is your fee structure, and what services are included in the cost?

5. Request Proposals

After the interviews, request written proposals from the firms that meet your criteria. The proposals should outline the scope of work, the timeline, the cost estimate, and any terms and conditions. Carefully review these proposals to ensure they align with your needs and budget.

6. Check References and Past Work

Contact the references provided by the firms and inquire about their experiences working with the consulting firms. Ask about the accuracy of their studies, the quality of communication, and the overall satisfaction with the services provided.

7. Assess Communication and Collaboration

Effective communication and collaboration are vital throughout the Reserve Fund Study process. Evaluate the firm's responsiveness, willingness to address your concerns, and ability to explain complex technical details in a clear and understandable manner.

8. Consider the Long-Term Relationship

A Reserve Fund Study is not a one-time task; it's part of a long-term plan for your property. Consider whether the consulting firm is a good fit for an ongoing partnership, as you may need their services for future updates and studies.

Conclusion

Selecting the right engineering consulting firm for your Reserve Fund Study is a critical decision that can have a lasting impact on the financial health of your property. By defining your needs, researching potential firms, verifying credentials, interviewing candidates, and thoroughly evaluating proposals and references, you can make an informed choice that ensures the accuracy and reliability of your Reserve Fund Study, ultimately benefiting your community's financial stability and peace of mind.

[propertymomsg]

Embarking on a Life of Luxury and Prosperity: Singapore Property Investment Unveiled

The dynamic landscape of the property market in Singapore has turned investing in condominiums and other properties into a gateway for unparalleled luxury and wealth. Beyond the potential for lucrative returns, these properties offer families a chance to create a lasting legacy, fostering fulfillment and a sense of belonging. Each exquisite estate is meticulously designed to provide a tranquil haven amidst Singapore's bustling metropolitan environment.

Empowering Families with Comfort, Stability, and Growth:

Owning a home has the power to transform lives, extending far beyond financial gains. Singapore Property ownership offers a myriad of benefits, from building wealth and financial security to establishing a stable foundation for personal development and community building.

Building Financial Security and Wealth:

Investing in real estate allows families to accumulate equity over time as property values in Singapore often appreciate. This opens up opportunities for various strategies, like refinancing or selling for profit, while also providing the potential for rental income.

Construction of a Stable Base:

Property ownership offers a stable and secure living space, eliminating uncertainties and restrictions associated with leasing. Customization of living arrangements promotes mental well-being, pride, and a sense of belonging, benefiting children's growth and overall well-being.

Possibility for Individual Development and Community Building:

Owning a home instills a sense of responsibility and valuable skills in long-term planning, budgeting, and property management. Nurturing a property can be personally gratifying, enhancing self-esteem and encouraging community engagement.

Your Trusted Partner for Singapore Condos and Properties:

Finding the ideal home for your family requires careful consideration and expert guidance. We specialize in offering a wide selection of Singapore condos and homes tailored to fulfill various demands and preferences. With our personalized approach and deep understanding of the real estate market, we strive to help families find their dream home aligned with long-term aspirations.

Our experienced team of specialists possesses an in-depth knowledge of the nuances of the Singapore real estate market, providing personalized advice and solutions to meet your unique needs. We simplify the home-buying process, offering market assessments, property comparisons, and professional guidance, ensuring you make informed decisions.

At every step, we are committed to making the home-buying experience seamless and satisfying. From property search to post-purchase support, our team handles the logistics, allowing you to focus on creating enduring memories with your family.

Conclusion:

When approached with the right mindset and strategy, property ownership can be a life-changing experience for families. It cultivates a sense of community, offering opportunities for personal growth, stability, and financial security. Singapore real estate enhances families' quality of life, providing comfort, opulence, and room for expansion. Empowering families to embark on a transformative journey towards a better future, Property Moms is dedicated to helping them find the perfect Singapore condos and homes.

[krogstpartners]

Unlocking Opportunities: A Guide to Choosing the Right Real Estate Investment Firm

Introduction:

Investing in real estate can be a lucrative and rewarding endeavor, especially in the realm of multifamily real estate investments. However, navigating the complex world of real estate investment requires careful consideration and expertise. One crucial decision is choosing the right real estate investment firm to partner with. In this guide, we will explore the key factors to consider when selecting a real estate investment firm and how it can unlock opportunities for your investment success.

Understanding Multifamily Real Estate Investments:

Multifamily real estate investments involve the acquisition and management of residential properties with multiple units, such as apartment buildings or condominium complexes. These investments offer unique advantages, including steady cash flow, potential tax benefits, and the ability to leverage economies of scale. When delving into multifamily real estate, partnering with a reputable real estate investment firm is essential for maximizing returns.

The Role of a Real Estate Investment Firm:

A real estate investment firm serves as a valuable partner in your investment journey, providing expertise and guidance throughout the process. These firms specialize in identifying investment opportunities, conducting due diligence, managing properties, and optimizing returns. They also offer services such as asset management, investment strategy development, and portfolio diversification. When selecting a real estate investment firm, consider the following factors:

Track Record and Experience:

Look for a firm with a proven track record in multifamily real estate investments. Evaluate their past performance, considering factors like property acquisition, asset management, and returns on investment. A reputable firm will have a strong history of success and the expertise to navigate market fluctuations.

Expertise in Asset Management:

Effective asset management is crucial for the success of your investment. A reliable real estate investment firm will have a robust asset management team that handles property operations, tenant management, and financial reporting. Assess the firm's approach to asset management, including their strategies for maintaining high occupancy rates, minimizing expenses, and enhancing property value.

Investment Strategy and Diversification:

A well-defined investment strategy is essential for long-term success. Consider the firm's investment philosophy, risk tolerance, and approach to diversification. A reputable real estate investment firm will have a clear strategy tailored to multifamily real estate investments, which aligns with your investment goals.

Market Knowledge and Research:

The ability to identify emerging market trends and opportunities is crucial in real estate investment. Evaluate the firm's market research capabilities, including their understanding of supply and demand dynamics, demographic trends, and economic indicators. A knowledgeable firm will have the ability to identify investment opportunities before they become widely known.

Transparency and Communication:

Open and transparent communication is vital when partnering with a real estate investment firm. Assess their communication channels, frequency of updates, and reporting practices. A trustworthy firm will keep you informed about property performance, market conditions, and any significant developments that may impact your investment.

Conclusion:

Choosing the right real estate investment firm is a critical step towards unlocking opportunities in multifamily real estate investments. By considering factors such as track record, asset management expertise, investment strategy, market knowledge, and transparency, you can make an informed decision that aligns with your investment goals. Remember, a reliable real estate investment firm will not only provide financial returns but also offer valuable guidance and support throughout your investment journey. With the right partnership, you can unlock the potential of multifamily real estate investments and achieve long-term success.

[condoinspection]

Condo Inspection Toronto

The majority of buyers feel that condo inspection is unnecessary as many issues are covered by the homeowner association (HOA). Unfortunately, it is a common misconception that can cause people to spend extra cost in the end.

The inspectors play an important role in identifying the issue before you make a commitment. The condo is an expansive purchase, and therefore you need a specialized evaluation of the condominium condition before you make a long-term commitment.

When choosing a condo inspection, you decide whether you want to do interior inspection or full assessment.

Many potential issues can occur in the walls of the unit. The responsively of HOA is to handle the maintenance outside the unit’s wall, but many problems can arise within the walls of the unit.

Efficient and experienced staff members provide condo inspection in Toronto with years of experience. The team consists of trained and certified professionals who identify and evaluate the issues wisely.

Condominium Inspection Checklist

There are many issues assessed and evaluated in condo inspection.  Evaluation, however, varies on the type of assessment you choose. The condo inspection involves interior only inspection and full inspection.

Condo inspection Toronto offers both interior and full condominium inspection. In most cases, a full inspection is best suited because it helps your o identify all the potential threats and hazards that can arise in the future.

Following are the things covered in interior and full inspection

Interior Inspection

Interior inspection involves inspection of

·        Cracked walls in the unit

·        Mold and inspect inspection

·        Inspection of the electrical system

·        The potentialproblem with floor, ceiling, and walls

·        Heating and cooking system

·        Checking all the places within the unit

·        Doors and window inspection that can identify large problems

·        Checking of adequate water pressure

·        Checking the functioning of smoke alarms

·        A thorough inspection of the area inside the unit

Half of the condo owners go for individual insurance for the unit, but it is ideal to a problem with do both interior and exterior inspection to avoidthe future issue from arising

Full Inspection

The full inspection of the condominium includes

·        Assessment of interior and exterior areas

·        Inspection of HVAC system

·        Damage to patios and shared deck

·        Looking for water damage

·        Visual inspection of roof and ceilings

·        Inspection of flooring, lobby, hallways

·        Inspection of parking lots and walkways

Hire the Expert

Whether you are purchasing a house or a condo, inspection of the property before buying it should be your first priority. You can review the documents and check the portfolio of the companies before hiring them. Choosing a professional ensures you high-quality services.

You get the report within one day, so evaluations. The inspection report includes

·        Detail of the items that are near the end of their life

·        Identifies the component not performing

·        Things that can be a potential threat in future

·        Pictures along with the items

You can make fast booking within 24 hours, and the team of inspectors will come to evaluate the condo. They will provide the inspection report the same day and provide you free technical support as long as you own a condo.

[thelinqatbeautyworld8-blog]

Getting a Condo

The Linq at Beauty World Virtual Tour

Owning a condo can be regarded as a hybrid sort of ownership because it is not only a traditional structure in property ownership. There are some characteristics which can help within the concept of ownership of condominiums. An individually owned unit is the space which is inside the boundaries that have been specified. This could include multiple rooms along with interior wall that divides different rooms in that specific unit. It also includes storage areas and balconies. Readily stored away airspace without land, but remains considered property.

The Linq at Beauty World Virtual Tour

Common areas

Common areas would be the other areas of such a home. This can be the area that all unit owners share. This includes roof, lobbies, halls, foundation, floors, elevators, ceilings and basement and so on. Other people are installations like water, gas, electricity and heating. There are more areas such as the parking lots, pool area etc, that happen to be additionally a the main common areas that are shared with the unit owners.

Property interest

Property curiosity about the exact property is conveyed through deed. The master sell his interest if he wills to do this. Much like other sorts of property, a person might hold ownership, or by 2 or more than two individuals, by the wife as well as a husband or business entity.

Taxes

In the same way may be the case with sorts of properties, the condo unit owners must do without property taxes as required for legal reasons. Every unit as well as the interest in common areas are generally deemed as being a package and it is taxed and assessed at an individual level. Common areas aren't assessed and taxed separately. The owner is liable for the taxes within their own parcel.

Associations

Usually, condominiums or unit owners associations have established yourself when the condos are made so as to be sure that each of the owners can easily maintain and manage your entire property together. Usually, a house manager externally is assigned in order to deal with all the developments and property management. There are several developments which have homeowners association and condo association where they have responsibilities for different aspects concerning managing the developments with its maintenance.

You will find governing documents which might be created in order to offer help with how associations work to operate. Additionally, they start adding some rules that all the tenants, owners and guests have to stick to. Necessities such as legal documents that may specify anything, such as type of pets allowed and the consequences of breaking some of the set rules. A number of the consequences normally include a lawsuit, forced compliance as well as fines.

Monthly dues

The association receives dues on several times of the season and this is the responsibility of the unit owners. These dues cover taking care and also the management expenses. Usually, the dues cover variable and stuck expenses like taxes, pool maintenance, landscaping, garbage removal, building insurance plus something to add to the reserve fund. If the take advantage a reserve fund isn't enough, then special assessment could be charged to owners in order to handle the special improvements and projects like furnace and roof repairs and so on.

[parterreproperty]

Condominium Property Manager: What Common Signs Point to Management Issues?

A condominium property manager is responsible for overseeing the day-to-day operations of a condominium complex. This includes managing the property’s budget, maintaining the physical condition of the building and grounds, and handling any owner and tenant issues that may arise.

While a good property manager can be a valuable asset to a condominium complex, there are some common signs that may indicate that there are management issues. Here are five things to watch out for:

Unresponsive management: If you find that your property manager is slow to respond to your inquiries or concerns, it could be a sign of a larger issue. A good property manager should be responsive and communicative, and should be able to provide timely updates on any issues or concerns. 

Lack of communication: Another common sign of management issues is a lack of communication between the property manager and the condominium’s residents. This could manifest itself in a number of ways, such as infrequent newsletters or updates, or a lack of transparency around important decisions or issues affecting the complex.

Poorly-maintained property: One of the primary responsibilities of a property manager is to ensure that the physical condition of the building and grounds is well-maintained. If you notice that the property is not being properly cared for, it could be a sign that the property manager is not doing their job effectively. This could include things like unkempt landscaping, deteriorating building exteriors, or inadequate repairs to common areas.

Financial issues: A good property manager should be able to effectively manage the complex’s budget and financial resources. If you notice that the condominium’s fees are increasing without explanation, or that there are frequent special assessments, it could be a sign that the property manager is not properly managing the complex’s finances.

High tenant turnover: Finally, high owner / tenant turnover can be a sign of management issues. If you notice that many units are vacant, or that onwer’s / tenants are leaving the complex at an unusually high rate, it could be a sign that there are underlying issues that are causing people to want to move out. This could be due to things like inadequate maintenance, poor communication, or other management-related issues.

Overall, a good property manager is an essential part of any condominium complex. By keeping an eye out for these common signs of management issues, condominium residents can help ensure that their property is being well-maintained and effectively managed.

For more information about Edmonton Property Management Company and visit Parterre Property

[thelinqatbeautyworld6]

Buying a Condo

The Linq at Beauty World

Having a condo can be considered a hybrid kind of ownership as it is not just a traditional structure in property ownership. There are several characteristics that can help within the concise explaination ownership of condominiums. An individually owned unit will be the space that's from the boundaries that were specified. This could include multiple rooms and also interior wall that divides different rooms because specific unit. What's more, it includes storage areas and balconies. These units are portable airspace without land, but remains to be considered real estate property.

The Linq at Beauty World psf

Common areas

Common areas will be the other regions for these home. This is actually the area that unit owners share. This includes roof, lobbies, halls, foundation, floors, elevators, ceilings and basement and so forth. Other people installations like water, gas, electricity and heating. There are many areas including the parking lots, swimming pool and so on, that happen to be also a section of the common areas which might be shared from the unit owners.

Property interest

Property desire for the home is conveyed through deed. The owner sell his interest if he wills for this. Just like other kinds of property, an individual might hold ownership, or by several than two individuals, with a wife along with a husband or business.

Taxes

Equally as is the case to types of properties, the condo unit owners ought to part with property taxes as needed lawfully. Every unit and also the curiosity about common areas usually are deemed being a package and it is taxed and assessed at an individual level. Common areas aren't assessed and taxed separately. The owner is in charge of the required taxes within their own parcel.

Associations

Usually, condominiums or unit owners associations are established if the condos are created so as to be sure that each of the owners are able to maintain and manage your entire property together. Usually, a house manager externally is assigned so as to take care of each of the developments and property management. There are several developments which may have homeowners association and condo association where they've got responsibilities for different aspects in relation to managing the developments as well as its maintenance.

You will find governing documents which can be created in an attempt to offer assistance with how associations are supposed to operate. They also begin to add some rules that the tenants, owners and guests should adhere to. These are the legal documents that may specify anything, including the kind of pets allowed along with the consequences of breaking the set rules. Many of the consequences may include a case, forced compliance as well as fines.

Monthly dues

The association receives dues on different points during the 4 seasons which is the responsibility of the machine owners. These dues cover the upkeep and also the management expenses. Usually, the dues cover variable and fixed expenses like taxes, pool maintenance, landscaping, garbage removal, building insurance as well as something to enhance the reserve fund. If your cash in a reserve fund isn't enough, then special assessment might be charged to owners in an attempt to handle the special improvements and projects like furnace and roof repairs and so on.

[rocketwerks]

English Village

3418-3450 Grove Avenue

Built, 1927

Architect, Bascom J. Rowlett

VDHR 127-0374

June 2020

Housing ahead of its time.

(Newspapers.com) — Richmond Times Dispatch, Sunday, July 10, 1927

The sales prospectus of English Village citing "...the new lifestyle ... while enjoying all the amenities, including privacy of single house living ... with an atmosphere of social respectability..." lt reads like a contemporary advertisement for carefree condominium ownership, yet the ad is over fifty years old.

(Newspapers.com) — Richmond Times Dispatch, Sunday, July 10, 1927

Incorporated April 14, 1927, English Village was designed as a cooperative community both for economy and for efficiency while at the same time maintaining a gracious lifestyle. The Village by-laws, still in force, state that "it is the purpose and object of this corporation to maintain and operate the property in English Village on a mutual and cooperative basis.&. without any profits or other gains or remuneration to the corporation, excepting assessments made as hereinafter provided necessary for the upkeep and expense of maintaining the property and providing heat and hot water to the seventeen dwellings located in English Village."

(Newspapers.com) — Richmond Times Dispatch, Sunday, July 10, 1927

This cooperative planned comity was a radical experiment in housing for Richmond as well as for the rest of the country since most of the multi-family housing constructed at the time were apartment complexes in the city or rowhouses in the suburbs.

While many different types of cooperatives in this country enlisted members at the beginning of the 20th century -- credit unions, agricultural co-ops, retail consumers, workers' productive, insurance and others -- cooperative home ownership was a fairly new concept in 1926. 

(Newspapers.com) — Richmond Times Dispatch, Sunday, July 10, 1927

At that time, articles appearing in popular periodicals extolling the merits of cooperative apartment ownership, and in 1928, an article appeared in Arts and Decoration entitled, "Cooperatives: the New Way of Buying a Home." The reasons behind cooperative homeownership, the author said, were that they were "...cheaper, more desirable, more flexible in plan... owners realized a savings in rent . . . they had a voice in management." This philosophy had already been espoused by Davis Brothers a year before in their advertisements for English Village.

(Newspapers.com) — Richmond Times Dispatch, Sunday, July 10, 1927

Unlike most of this country's housing co-ops of the 1920s which were built for the working class by industry, philanthropists, or non-profit governmental agencies, English Village was built in the fashionable Grove Avenue neighborhood for the upwardly mobile middle class by private entrepreneurs. According to an article in the real estate section of the Richmond Times Dispatch dated January 23, 1927, English Village would have all the latest modern conveniences including: separate garages; electric refrigeration; community heating; a parked entrance-way as well as "a janitor and cook service on the cooperative plan.

June 2020

Advertised by Davis Brothers as "English Architecture al; its best," the Village was designed by Rowlett, a lesser known Richmond architect, who was noted for a number of fine residences and apartment buildings in Richmond in the 1920s. Reminiscent of the Shelby Apartments of Kingsport, Tennessee, built in 1926, Rowlett's Tudor Revival mannerisms lent variety to the multi-unit complex.

June 2020

Designed for economy, efficiency, and permanency of building materials without sacrificing aesthetics, the Villas is composed of seventeen attached units two-and-a-half stories high built of brick walls, a distinctive water table, buttressing, prominent gables, and half-timbering in some of the second-story gables. The overall appearance is that, of asymmetry yet the plan is symmetrical with each half being the mirror image of the other. The plan consists of a symmetrical main block and two wings extended forward at each end of the rectangular main block. The wings are asymmetrical but mirror images of each other. 

June 2020

The off-centered doorways are capped with 'Tudor-arched lintels made of cast concrete embellished with designs of lions heads, coats of arms, grape vines, and the diaper motif. Some of the door surrounds are quoinwork of cast cement made to look like stone. The Arts and Crafts philosophy is apparent in the treatment of the doorways. 

(The English Village)

The doors are board-and-batten with stained-glass windows and wrought-iron strap hinges and thumb latch door handles and knockers. Fenestration on the first and second floors consists of a variety of window shapes and sizes; round-headed windows with leaded stained glass, small narrow rectangular leaded stained-glass windows with label moldings of cast concrete, and metal casement windows set in groups of two's and three's.

June 2020

The cornice in the second story is small and molded. The lines of the gray slate-covered hipped roof are broken by shed dormers, stepped gables, gable ends, some of which have jerkin heads, and large decorative chimney stacks. The focal point of the building is the main block which faces the central courtyard.

(VDHR) — 1983 VDHR nomination photo

The horizontal lines of the main block are interrupted by the vertical lines of the prominent central gable with second-story half-timbering and the vertical thrusting of the chimney stacks flanking either side of the gable end. The one-bay entrance porch again reflects the Arts and Crafts era with its heavily turned wooden posts with brackets and carved acorns and slate roof. Except for this rather ornate porch, Rowlett gas somewhat restrained in the use of ornamentation, but rather used quality materials for color and texture. 

June 2020

The brickwork is laid in Flemish bond with a tapestry-like pattern in the gable peaks. Cast-cement recessed panels with molded coat of arms designs are also located in the top of the gables. The gutters and downspouts are made of copper. Other uses of ornamentation include a distinctive brick beveled water table which serves, visually, to tie the units together, and brick corbelling under the eaves on the gable ends.

June 2020

The south, east, and west elevations fronting Grove Avenue present the formal side of the Villas, while the north, east, and west elevations facing the rear alley are more utilitarian and resemble the typical rear elevations of rowhouses in Richmond. The plain rectangular common brick walls of the first and second stories are laid in common bond.

June 2020

Simple hoods with brackets shelter the rear doorways. Fenestration consists of 6/6 lights with double-hung sash. Each dwelling has its own private tiny rear patio or garden area enclosed by a picket fence. "Modern refrigeration" boxes are still conveniently located near the back kitchen doors. The furnace room and four-room apartment for the custodian is located on the northwest corner on the rear of the building facing the alley. Seventeen attached brick garages with metal shed roofs are located on the north side of the concrete paved alley.

(Newspapers.com) — Richmond Times Dispatch, Sunday, July 19, 1927

The interior plan which varies slightly for each unit was designed for comfort, convenience, and efficiency and for a servantless lifestyle. One enters through an interior vestibule dimly lit by stained-glass windows. Tudor arched doorways lead from the living room to the dining room to a compact galley-type kitchen at the rear. An open stairway on one side of the living room leads to three bedrooms and a porcelain tiled bathroom upstairs. Some living rooms are equipped with corner fireplaces with cast cement Tudor styled mantels and terra cotta tiled hearths. 

(Newspapers.com)

The original mantels were left unpainted to resemble carved stone, however, most of the mantels have been painted over. The ceilings are low with coved ceilings in the hallways, living rooms and dining rooms. Party walls are constructed of cinder block with a stucco finish. The walls were originally painted a cream. The woodwork, including the two-paneled doors with glass door handles, door and window trim , stairway newel post, handrail and turned balusters, was originally stained a dark oak. The creamy walls and the lighter red oak floors were meant to contrast with the darker tones of the doors, windows, and trim.

June 2020

The original landscaping plan consisted of fir, spruce, elm, and hemlock trees combined with ornamental shrubs and lined with terra cotta patios and walkways. A water fountain graced the central courtyard. The circular drive was paved with brick. A playground was located in the northeast corner of the lot behind the buildings. Brick walls enclosed the grounds with a gateway leading to the driveway.

(The Cultural Landscape Foundation) — Charles Gillette

In 1947, the original landscaping plan was altered by Charles Gillette, a Richmond landscape architect. The fountain was removed and replaced by the present flagpole. The driveway was paved with asphalt and the playground no longer exists.

June 2020

The corporate structure and by-laws of English Village Corporation were much the same as that of Garden Homes Cooperative in Milwaukee, one of the first cooperatives in the country, built in the early 1920s. The homeowners in both cases bought shares in the corporation. Besides paying for stock, the homeowners also paid a rental sufficient to cover interest, taxes, insurance, depreciation, repairs and maintenance. But while the home ownership was collective in Milwaukee with no clear title to the property, English Village stockholders retained clear title to their individual properties similar to today s condominium ownership.

June 2020

Since its beginning in 1927, the business of English Village Corporation has been transacted at an annual meeting, or special meeting; if needed, with duly-elected officers and a board of directors managing the property. Each stockholder is assessed one-seventeenth of the total expenses for the maintenance and upkeep of the buildings and grounds.

June 2020

During the depression many of the early owners lost their homes through mortgage foreclosures. However, by 1934, the deeds indicate that all the dwellings were once again owned by families who resided there. The Robert L. Atwell family, original owners of one of the dwellings, managed to hold on to their property and still retain it to this day.

June 2020

English Village Corporation no longer contains all of its restrictive covenants, but it does retain an important one in the original by-laws which has helped maintain the architectural integrity of the building. Homeowners are restricted from making any changes to the exterior of their individual homes which would constitute a departure from and in contrast to the original architectural plan and design of the village structure as a whole. English Village, a product of the era of community consciousness, functionalism, and the Garden Cities ideal, remains an excellent example of an early 20th-century planned cooperative community. (VDHR)

June 2020

A thing of beauty is a joy forever, and that goes double for English Village, still looking good at 93 years young. That’s also true of Architecture Richmond’s write up on this unique Richmond location, a worthy read.

(English Village is part of the Atlas RVA! Project)

[orleneblog-blog]

DISASTER RISK REDUCTION AND MANAGEMENT: PARTICIPATORY CAPACITIES AND VULNERABILITIES ASSESSMENT

One of the core requirements in finishing NSTP 1 is visiting the barangay that we are currently living in. I am from Davao City, but due to time restraint and not being able to come home I visited another barangay. I chose a barangay near my school, the University of Santo Tomas, since I am there most of the time and I know many students live near the school. In this way, I can help them and the members of the community to be safer if ever disasters occur.

Barangay 397, Zone 41, District IV - Upon reaching the barangay, I was greeted by the Barangay Secretary. I wanted to interview the person in charge of the Barangay Disaster Risk Reduction Management (BDRRM), but he was not available. In our interview, we talked about three important topics. (1) Hazard Identification, (2) Vulnerability, Elements and People at Risk Assessment, and (3) Capacity and Disaster Management Assessment.

BDRRM KWENTUHAN

HAZARD IDENTIFICATION

There are many hazards that hit the barangay. They have experienced typhoons, earthquakes, fires, and other calamities. These are the common dangers that affect the community. In my 3 years living in Manila, I noticed that the most common occurrence are the typhoons which results to floods and sickness. These happen almost every year, so the barangay holds annual seminars and meeting for the members of the community. The meeting includes what to do before, during, and after a disaster have taken place. There are fliers and posters posted around the barangay hall. To know when a disaster strikes, the barangay heads listens to the news and gets informations to reliable sources such as organizations like the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) or the Philippine Institute of Volcanology and Seismology (PHIVOLCS). After getting the information needed, if an evacuation is needed they immediately conduct it. However, it is not an easy thing to do since not everyone cooperates. Also, there are people in the community that violates the city ordinances and laws like not putting stands on the sidewalks that will cause possible accidents.

VULNERABILITY, ELEMENTS AND PEOPLE AT RISK ASSESSMENT

The people who will be the most affected are the people living in the poverty line or even people living in old buildings or houses that could not stand a disaster striking. This is because not having the sufficient money and resources to upgrade or strengthen the current place that they are living will cause danger and harm to them. When a disaster strikes, there is a big effect to the people, their livelihood, homes, and infrastructures. Some of them loose these things. One good thing is the calamity fund which can help the people affected. The safest place to stay is the evacuation places set up by the barangay. There are still problems like the opposition trying to destroy the projects of the administration and making everything look bad for their own agenda. There are 2 vulnerable places or things where the people and their livelihood are at risk. These places are:

Sidewalks

Sidewalks are meant to be for people. For us to walk safer from one destination to another, but some people have abused these by acting that they own it. Business stands have been built which caused an interception on the way. People are at risk here because this may cause a stampede when people are evacuating. Some stores also throw trashes improperly which may cause drain blockages if it rains and in return will have floods.

Old infrastructures

The infrastructures that are built on in this city is getting older, and it's getting worse. These cover everything from the transportation systems that connect us to the framework that makes cell phone and internet connectivity possible. It encompasses the pipes and sewer mains that run beneath the ground transporting water to and from homes and businesses. As infrastructure pieces age, they become more expensive to fix, putting officials at every level of government in the position of hoping these critical resources don't fall apart. Throughout the state, cracks in the system are starting to show.

Capacity and Disaster Management Assessment

The ones who are in charge in the preparation for the calamities that will occur are the barangay captain, kagawads, and other committees like the ones specializing in disaster risk management. They are the role models of their community. They provide informations like educational infographics that will be easily understood by anyone. The barangay also provides annual seminars and activities for disaster managements. In this way, the community will be informed and knowledgeable on how infrastructure should be built, what is allowed and not allowed, and teh things to do before, during, and after a disaster strikes. There are different committees responsible for each sector when a disaster strikes: food and water, clothes, etc. In addition, a fund is also allocated to the victims of the said calamity. There are evacuation centers available for the evacuees. I was not able to ask for the BDRRM Plan of the barangay. Though, I was able to witness the CCTV footages installed around the place.

COMMUNITY WALK

HAZARDOUS PLACE

The picture below is a hazardous place for me because as you can see there is a construction taking place. Hundreds and maybe thousands of people walk here and this may be unsafe to them. This can cause dangers when they accidentally fall in the hole. I hope that they will put up signs or barricades for the safety of the people.

SAFEST PLACE

The picture below is the safest place for me because as you can see pedestrians can freely walk the sidewalks. The one thing bothering me are the street vendors. I hope that the officials will give them a more permanent and safer place to conduct their business. 

BEST PRACTICE

The best practice for me are the people’s cleanliness in these areas. The barangay officials make sure that trashes and garbages are properly thrown.

REFLECTION, SYNTHESIS AND ANALYSIS

There are still a lot of work to do to make the barangay safer. The barangay is prone to floods when a typhoon strikes. A higher level house should help them and clean up drives. I also noticed that it still developing as there is a condominium slowly being occupied by tenants. This place should be safe because a lot of students are living around the area. An issue confronting the community is the illegal vendors on the street. Even though ordinances and laws have been passed and implemented by the local government, people still break this and turn a blind eye. The government should be handle this with patience, but if they still refuse to cooperated then certain measures should be done and punishments should be given for those who violate. There are many people that mock the people of Davao City and the president when they take pride of their city. Davao City is one of the most safest and cleanest cities in our country. There is a 911 service where you can call. I thought that it was in every part of the country, but when I arrived in Manila it wasn’t. I hope that every part in the country will have that. I heard in the news that there are other places in the country are slowly adapting to this which is a great idea. The no spitting ordinance and smoking ban is being adapted and implemented to. I hope that we will follow the rules and laws that have been passed because it is for our own good. I know the administration have dealt with issues, but for me the good outweighed the bad.  

[malonerobinson24-blog]

Strategize Your Rental Transfer With Tampa Movers

Strategize Your Rental Move With Tampa Movers

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[acrirealty-blog]

Perils of Hiring Cheap Condo Property Management Services

New Post has been published on https://blog.hoa-websiteservices.com/condo-property-management-services/perils-of-hiring-cheap-condo-property-management-services/

Perils of Hiring Cheap Condo Property Management Services

What’s the difference between a good, mediocre, and downright bad condominium management company?

Is a less expensive per door costs always better? Sure you can save a few pennies and appear like you are saving money, but when you look closely, you may be in serious trouble.

Ignorance isn’t bliss for your community — or your neighbors — when it comes to Condominium Property Management Service Companies. You need to find some answers to some key questions before signing that contract. Don’t be impressed by empty promises and pretty PowerPoint presentations.

Here is a list to use that answers those tough questions. Print it out and use it as a guide the next time you need condo property management services. Be sure to get the answers you really want:

How many people REALLY work there?

Do the managers hold and certificates? Do they have real estate licensing?

Is the Company Controller also a property manager?

Have you randomly visited their office? Visiting just a website is not enough!

Is the less expensive company adequately insured against liability claims or a law suit?

Is the less expensive company collaborating with the developer just to make more money?

Does the company have a reputation to get you bank financing when you need it?

Can the company lend your Association money if you can’t get any financing or will have to say goodbye to your dream home?

Do they procure reliable and vetted contractors to perform service requests?

Are they big enough to secure VOLUME discounts on service for your Association for things like landscaping and snow removal?

Are contractors knocking at their door looking for the opportunity to work for them? Or are they hanging around to get paid?

Is there a Dedicated Fully Staffed Accounting Office?

What accounting software package do they use and ask for a copy of a generated report. Quick books is not a software package for Associations.

Can they provide you with a complete asset life span report?

What about Reserve Studies? Will that cost you extra and if so, how much?

Does the Management company exercise secure dues collection methods?

Is your personal financial information safe from hackers?

Do they have an attorney on retainer to handle any legal affairs?

Are you getting nickel and dimed with “hidden charges”? Better ask what it costs to mail a letter.

Hiring a Cheap Condo Property Management Service Company simply cannot protect property values. Without the software, staff and certified contractors to protect your HOA services efficiently you will pay much more in the long run and end with a devalued properties. Simply put; the less expensive condo property management companies are not collecting enough money to effectively manage your assets. If you needed a brain surgeon, you wouldn’t pick the least expensive option so, do the research when you really need the best condo property management service company.

Be careful choosing. Your condo owners could face paying a big special assessment for years of neglected capital improvements and underfunded reserve accounts. The first step in proactively preserving your HOA values is employing sound management professionals who know how an HOA should operate. You will recover the management costs with increased property values. Call Acri Realty today for a quote to get the best in condo property management services.