Tagbudget

What to do When Condo Association Assessments Increase

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There are only two things certain in life – death and taxes.  Unfortunately, Condo fees – also known as assessments – are a form of taxes.  They pay for the maintenance and operation of your Association.  The key with assessments is to try to keep them as low as possible while still properly funding the necessities.  When Condo Association assessments increase, Owners want to...

Tips for Communicating Condo Association Budgets

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It is Condo Association budget season!  That wonderful time of year where Condo Associations need to figure out what expenses can be cut and if reserves are sufficient while looking at special projects to enhance amenities.  All of this is good stuff, but it is meaningless if your informed Owners don’t know what you are doing.  Most Condo Associations will spam out a complicated spreadsheet and...

Three Things No One Tells Prospective Condo Buyers

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Buying a new home is always exciting.  Condominiums are often ideal for people who have smaller (or no) families, don’t want to have to directly worry about maintenance, or desire the prime geographic location of a Condominium.  While Condos are a great investment for many people, they also include challenges and potential downsides that most people aren’t told or don’t know about.  Here...

Condo Association Budget Tips for Owners

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Condo Association budget season is in full swing.  Condo Association Boards and Management are busy developing their budgets for the new year.  Ideally they are eliminating waste, identifying high-value projects, and putting enough into reserves.  While Boards are hard at work, this is also a great time for involved Owners to review their Association’s budget when it is distributed during the...

Four Tips for Condo Association Budgets

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Fall is typically the time for developing Condo Association budgets.  This is because most Condo Associations run on a calendar year fiscal cycle and most Bylaws require a 30-day Owner comment period.  Budgeting is an extremely personal exercise – every community is different, with different amenities, costs, and tolerance for Condo fees.  Nonetheless, there are several tips that are...

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