Regular and preventative maintenance programs are imperative to the success of a condominium corporation. Evaluating your property’s needs, our team works with your contracted service providers to support your maintenance and replacement plans. Through proactive investigation of ways to reduce unplanned costs, the future of any condominium can be set on a path to continuous improvement.
Each property has its own particular structural, mechanical, and utility service components to consider. What must also be understood is the integral connection of these pieces. The reserve fund study of a condominium is meant to provide guidance and a plan for the replacement of all major components. Our support of a corporation, its board, and its owners is in gathering the facts required for informed decisions to be made throughout the lifespan of the condo. The goal of our advice to condominiums is to start a positive cycle of cost reduction that builds on itself, fostering the financial health of the corporation. Decisions made regarding preventative maintenance can dramatically prolong the life of a property’s structure and reduce emergency repair costs. These actions also aid in the reduction of insurance claims, which in turn cuts costs even further. Cost efficiencies exercised through supportive contractor relationships also contribute to the financial stability of a property. Reducing expenses in strategic ways leads to a corporation’s reserve replacement needs being funded effectively and systematically.
A property that is well maintained and less exposed to risks will be a more stable investment, and a more comfortable home. This peace of mind is essential for a successful condominium that current and future owners will be proud to be a part of.