This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Not only is it easy to get to, but condominium units were plentiful and very affordable. While there are some exceptions to reserve fund requirements, most condominiums are required to have studies completed by a professional at least once every 5 years. Florida has historically been considered an ideal state to purchase a winter home.
That being said, license plate readers can be effective access control solutions in condominium parking garages. Table of contents How do automated license plate readers work How are LPR systems used in condo buildings? But, infrared illuminators are required due to the unique reflective properties of license plates.
Because of their capacity to improve an investors cash flow, generate multiple streams of income and boost their net operating income (NOI), multifamily properties are a popular type of real estate investment. Are you taking that big step and purchasing your first multifamily property? Get started by viewing .
One comprehensive study found that over 90% of property management companies had growth as their #1 priority. Acquiring more clients is one of the main ways property management companies can generate additional revenue; however, companies can also lose good clients if they try to take on too much work or reduce their service standards.
Although summer is a great time for a bit of rest and relaxation, Florida condominiums have some work ahead of them. Note that this bill is directed at condominium and cooperative associations. House Bill 913 , also known as the 2025 Reform Bill, came into effect July 1. The location must be provided in the association’s bylaws.
Exterior Elevated Element (EEE) inspections are a vital part of keeping California multi-family buildings safe and compliant under SB721 (for apartments) and SB326 (for condominiums and HOAs). Yet, we encounter the same misunderstandings over and over among landlords, property managers, and homeowners.
Tug-of-War Between State and Local Regulations What Does This Mean for Airbnb Hosts and Property Managers? B 280 also mandates that property rental platforms like Airbnb collect and remit tourism taxes, submit occupancy and registration data to the state, and allow DBPR to manage licenses. So What’s the Problem?
But, making such a large purchase always comes with risks that need to be evaluated. The price is right It’s still a stretch to say that Toronto condominiums are affordable, but prices are certainly more reasonable now than they were 3 years ago. Q1 2025 condominium sales amounted to 3,794 in the GTA, down 21.7%
Buying property in Harrison Hot Springs offers a unique opportunity to enjoy lakeside living while investing in one of BC’s most charming resort communities. If you’re serious about buying property in Harrison Hot Springs, we highly recommend experiencing the town for yourself first since there’s no better way to fall in love with it.
Backed by Lifty Life , the leading STR operator in town, we’ll walk you through the essentials of buying property in Harrison Hot Springs and making the most of your investment. Thinking about buying property in Harrison Hot Springs? roofing, exterior painting, parkade maintenance).
Alabama Uniform Condominium Act (1991) Applies to condominiums created on or after January 1, 1991. The states Uniform Condominium Act outlines development procedures, unit owner rights, and association responsibilities. It also regulates budgeting, insurance, maintenance obligations, and voting rights.
In California, Senate Bill 326 (SB326) is transforming how Homeowners Associations (HOAs) and community boards manage the safety and maintenance of multi-family residential properties. SB326 applies specifically to: Condominium projects governed by a homeowners association. Who Does SB326 Apply To?
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.
Would you consider your condominium to be bike friendly? of bike amenity space into their new condominium. Bike racks dont require too much maintenance, so those annual payments will add up over time. These rules are usually created because there is concern the bikes will accidentally damage common property.
These bills affect both homeowners associations and condominium associations. They must also complete a state-approved condominium education course. HOAs cannot restrict homeowners from installing vegetable gardens and clotheslines if not visible from the street, neighboring properties, or common areas.
If you’re looking for the best property management books around, we’re here to help. Our professional property managers have chosen our personal favorites for your viewing pleasure. Read below for some great recommendations on managing rental properties.
6 reasons to hire a Chicago property manager You’ve decided to diversify your investment portfolio by purchasing a two flat in Irving Park, a couple of condos in Naperville, or a vacation home on the North Shore. A knowledgeable property manager can help you set the right price for the area.
Motivated by the Surfside condo collapse, lawmakers don’t ever want to see another community in the same position as the Miami condominium ended up in. Condominium disclosure statements must include the current balance in reserves, and the most recent reserve study, states Section 81-409.
HOA Reserve Study Requirements by State A reserve study is an integral tool for any homeowners or condominium association. 3) An estimate of the cost of repair, replacement, restoration, or maintenance of the components identified in paragraph (1). (4) ” Colorado These are the Colorado HOA reserve study requirements.
Download our free chargeback letter template Chargebacks are one way residential communities can preserve peace and property values. A condominium or strata may charge costs that it sustained because of an owner’s actions or omissions back to them through common expense fees. 133 of the Strata Property Act. What are chargebacks?
Read on to find out how high-rise condominiums are currently using AI to streamline operations and improve resident satisfaction. Thats 1/5 of condo fees going to maintenance ! Thats 1/5 of condo fees going to maintenance ! This allows management to take immediate action and reduce the risk of damage to the system or property.
Because of their capacity to improve an investors cash flow, generate multiple streams of income and boost their net operating income (NOI), multifamily properties are a popular type of real estate investment. Are you taking that big step and purchasing your first multifamily property? Get started by viewing .
Condominiums are sometimes praised for their inventive designs. However, structural integrity, an equally attractive trait, probably doesnt get enough attention from condominium communities. If this happens, the entire condominium could be at risk of collapsing. What does the inspection cover?
While that seems relatively long, consider this: it can cost $200,000 to $300,000 to replace a single elevator cab in a condominium! Preventive maintenance: the key to reducing elevator costs Now that you have a greater understanding of how much it costs to replace a condo elevator, let’s explore ways you can prolong its useful life.
When we are busy overseeing Northern Virginia property management of multifamily homes (including Richmond, Baltimore, D.C., The rental market for multifamily properties has historically been very healthy. Pro: Tax Benefits Investing in multifamily property can provide investors with a number of tax benefits.
cooperatives, HOAs, and condominiums, provide anonymous answers to a survey company on behalf of the Foundation. If you live in a condominium or homeowners association, does your community have a reserve study to help plan for repair and replacement of major components owned by the community? This survey is completed every other year.
Coming into a new rental property, you probably have a lot of questions. When we take care of rental property management in Baltimore and other cities, we always strive to be transparent and upfront on what these are and how they interact with your daily living. They typically govern the shared spaces more than individual properties.
mem property management has announced its support of the New Jersey chapter Community Associations Institute (CAI-NJ) Annual Conference & Expo. ” About mem property management mem property management is a privately held NJ property management company that was founded in 1984, by Martin H. .
What Do Senior’s Want in an Condominium? #1: Homes with long driveways or multi-level entrances can be difficult for older adults to traverse, states Matthew Laderman, Vice President of mem property management To increase the appeal of your property for Active Adults Offer parking as close to the entrance as possible. . #2:
By leveraging this tool, you can defer capital gains taxes and reinvest in larger or more lucrative properties. Internal Revenue Code, allows real estate investors to defer paying capital gains taxes when they sell a property and reinvest the proceeds into a like-kind property. What is a 1031 Exchange in Real Estate?
These include managing maintenance schedules, handling financial transactions, enhancing security measures, and facilitating communication with residents. Preventive Maintenance AI can predict maintenance needs before issues become critical, saving time and money. It covers various aspects of association management.
Investing in multifamily properties is an excellent way to grow your portfolio and generate steady passive income. At Beach Front Property Management Inc , our goal is to stabilize your returns while reducing vacancy rates, especially while handling multifamily units. What are Multifamily Properties?
It’s important to strike a balance to make the most out of the rental property. Property Value How do you calculate real rental price? Landlords can often use the property’s overall worth to determine the base rental price. Typically, the rental price of a property should fall between 0.8%
What investment property to buy? What is the best type of property to buy. Of course that returns on the investment, appreciation rates as well as risk, vary from property type to property type. All investors would like to buy the property that yields the highest return on their investment with the minimum possible risk.
While it is marketed as a measure to provide relief for renters, it poses serious concerns for property owners, managers, and landlords. In this blog post, we will delve into the details of Proposition 33 , how it could affect the real estate market, and why those involved in property management should consider voting no.
mem property management corporation, a full-service condominium management firm headquartered inNew Jersey has proved the unparalleled effectiveness of its disaster readiness plan in the aftermath of Superstorm Sandy. For mem property management, NJ comes first. Laderman, President of mem property management company.
mem property management , recently filed with the United States Patent and Trademark Office (USPTO) a Combined Declaration of Use and Incontestability Under Sections 8 and 15 to further strengthen the company’s intellectual property rights. “We
For investors, multifamily properties offer a profitable opportunity, however, they come with a unique set of challenges. From ensuring satisfaction for multiple tenants to tracking payments to handling emergency maintenance issues, managing these types of properties requires effort and expertise.
Understanding multifamily properties in today’s real estate market is essential for investors and property managers. For investors, these properties present lucrative opportunities for diversifying portfolios and securing long-term income streams. What is a multifamily property?
For property investors, Hillcrest in San Diego presents a vibrant and promising market. However, succeeding in real estate investment requires more than just purchasing property. However, succeeding in real estate investment requires more than just purchasing property.
Because it provides an alluring chance for financial freedom and the potential to generate passive income from investment properties, many people aspire to work as full-time landlords. A stable cash flow allows you to make additional investments in your properties or take advantage of additional income.
Dealing with a property manager who ignores your concerns or requests can be frustrating and challenging. Whether you're renting an apartment, condominium, or commercial space, effective communication with your property manager is essential for resolving issues and ensuring a positive rental experience.
Well-chosen properties in desirable locations can provide consistent cash flow, often exceeding initial investment expectations. These can include deductions for mortgage interest, property depreciation, and operating expenses. As the cost of living rises, so do rental prices and property values.
After single-family row homes and townhouses, condominiums (condos) and cooperatives (co-ops) are two popular housing types in Washington, DC, for potential buyers. When you purchase a condominium, you are buying an individual unit within a larger building or complex. What does that mean? And, is it important? Is it co-ops or condos?
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content