How to Help Spare Your Miami Condo Building From Big Assessments

How to Help Spare Your Miami Condo Building From Big Assessments

When you’re serving on the board of condominium or working for a property management company that serves condos in Miami, you’re probably conscientious about the possibility of needing to levy assessments. Big assessments can be a huge problem for many condo owners, and they can even have the effect of compelling owners to sell and creating a mass exodus from the building. There are effective strategies that can help minimize the risk of assessments hurting your condominium’s membership.

Find Competitively Priced Supplies for Maintenance and Capital Needs Projects

Regular building maintenance needs can comprise a significant part of a condominium’s budget. You need to be sure that you’re getting competitive quotes and pricing to avoid overpaying for materials and services. This is particularly important when you’re making sure that your building is prepared for hurricane season and getting your windows and roofing systems storm-ready. When you’re looking for roofing products Miami FL, you should work with a vendor who can offer a wide variety of products and doesn’t attempt to sell the same type of products to every building. The less that you spend on maintenance and projects, the easier you’ll be able to pay for them with reserve funds.

Start Preparing for a 40 or 50 Year Recertification Well in Advance

All condominium buildings in Miami know when 40 and 50 year recertifications are coming, but many fail to take any action to prepare until they receive an inspection report citing multiple defects. In reality, preparation for recertification should start to happen at least a year in advance or earlier. You need to find out about what you’ll need to do and avoid surprises. When you know what you need to do in advance, you’ll be better positioned to plan carefully and prevent the need to levy exorbitant assessments for repairs that have to be completed in a rush to get your recertification certificate.