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According to the article, “Earth Conscious Condos” the hottest trend in the condo market is the “green condo” The article states that they aren’t that much more expensive to build, have lower operating costs and better resale value. Why then are so few developers building LEED certified (or better) condominium projects? Licensing of condominium property managers has been somewhat of a touchy subject for many years, with strong views from both sides. Do you think that licensing and accreditation would have prevented the alleged incidents? When I first saw the heading for the following article, my first thought was of John Cleese’s portrayal of Basil Fawlty from the 1970’s British sitcom Fawlty Towers. Turns out this condominium complex was in far worse shape than the Fawlty Towers hotel.
The article certainly identifies why it’s not only important have a reserve fund study done, but also to follow the contribution recommendations and to complete the repairs and maintenance. These people have learned the hard way that annual increases in condominium fees are not as bad as having to endure a massive special assessment. At Delta Appraisal, we work with property managers and board members to set realistic budgets and to prioritize maintenance and repair projects. Our functional Reserve Fund Studies are unbiased and we are not competitors in property management or maintenance. For more information about Delta Appraisal and our easy to read, functional Reserve Fund Studies or to request a competitive quote, please contact us. Thank you for taking the time to read our newsletter. If you have a topic that you would like to see in a future newsletter, please let us know. We are always looking for new ideas and would be happy to give you credit for your topic. Please send your ideas to delta@telus.net.
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