Managing a condominium building involves much more than annual meetings or paying common charges. An effective condominium association plays a central role in preserving the building, ensuring the well-being of co-owners, and maintaining the value of your real estate investment. But how can you tell if your association is truly fulfilling its role? Here are 5 concrete signs to watch for.
Turning to qualified experts: a mark of seriousness
A responsible condominium association knows its limits and calls on professionals when necessary. For example:
- For major work (roof, structure, envelope), a specialized engineering firm should be hired to assess, plan, and oversee the work.
- In case of damage, a claims expert firm can maximize compensation, especially if negligence is identified.
Good to know: A professional manager will often recommend these experts to ensure rigorous management of complex situations.
Healthy delegation to the property manager
A good board of directors knows it doesn’t have to do everything. It delegates operational tasks to a qualified property manager:
- Monitoring suppliers
- Paying invoices and keeping accounting records
- Managing registers
- Organizing general meetings
- Requesting quotes
This delegation allows the board members to focus on strategy and oversight while avoiding burnout. It also fosters stable long-term governance.
Preventing damage: do you have water detectors?
Water damage is among the most costly claims in condominiums. A simple but still underused solution: smart water detectors.
They help to:
- Reduce damage through early detection
- Lower insurance premiums
- Provide peace of mind to co-owners
Your association might even consider a collective project or offer an incentive grant for their installation.
Rigorous follow-up of the reserve fund study
A well-organized association respects the recommendations of the reserve fund study:
- Budgets include amounts allocated for maintaining common areas
- The asset management plan is updated every 5 years
This study should not be seen as just a mandatory document but as a tool for long-term strategic planning.
A climate of respect between co-owners and board members
A healthy condominium relies on harmonious human relationships. Respect between co-owners, board members, and suppliers helps to:
- Defuse conflicts
- Speed up problem resolution
- Create a pleasant and cooperative environment
Reminder: A condominium is a micro-community. Civility and kindness are powerful allies for effective management.
Evaluate your association now
Take a few minutes to review these elements in the context of your building. A well-managed condominium means:
- Less stress for co-owners
- Better unit valuation
- A building that ages well
- Want to get involved or ask questions?
Don’t hesitate to discuss these topics with your board members or propose an agenda item for the next meeting. Better management often starts with a simple conversation.