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5 ways for high rise condominiums to save money in 2025

Condo Control

Densely populated high rise condominiums have always been budget conscious. In order to avoid angering residents by issuing hefty special assessments or maintenance fee increases, boards and managers are doing what they can to offset the high cost of maintaining a condo. But this year is different. million for a 300-unit building.

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Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. Operating costs can consist of property taxes, real estate agent fees, utilities, maintenance, property management fees, homeowners insurance and legal fees.

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How to increase the annual budget while making your condominium more bike friendly

Condo Control

Would you consider your condominium to be bike friendly? of bike amenity space into their new condominium. Applications can be filed and reviewed online, and payments can be processed online too. Fewer complaints If a bike is stolen from a rack located behind a condo building, management is going to hear about it.

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Florida HOA Laws 2024: Updates And Changes

HOA Managememt

Board members and community managers alike have a duty to ensure legal compliance. These bills affect both homeowners associations and condominium associations. They must also complete a state-approved condominium education course. HB 1021 For Condominium Associations Governor DeSantis signed HB 1021 into law on June 14, 2024.

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Managing paid condo and HOA parking and storage

Condo Control

But January can be a heavy month too, especially if you help manage a large condominium or HOA community. Table of contents Large communities benefit from having paid parking and storage What is the best way to manage paid parking and storage? How is a community assets management system better than what were doing now?

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What to do when the demand for condo/HOA parking and storage is high

Condo Control

Take paid condominium parking and storage as an example. Inventory management waitlists Once the maximum number of spots or spaces have been leased, condos and HOAs can create waitlists to address demand for these shared assets. Restriping If you manage an older community, the parking spaces might be larger than necessary.

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Bill 30 could make condo living easier in Alberta

Condo Control

Alberta has tabled legislation that aims to improve governance in condominium communities. Bill 30 , the Service Alberta Statutes Amendment Act, 2024, would impact three different Acts: Condominium Property Act Prompt Payment and Construction Lien Act (PPCLA) Public Works Act (PWA) Developers and contractors would also benefit from this Act.