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How a Condo Management Company Can Change Your Life

How a Condo Management Company Can Change Your Life

How a Condo Management Company Can Change Your Life I know. It seems hard to believe. How can a company that handles complaints and issues for a living make a difference in anyone’s life? And to make matters worse, I constantly hear the comment (once I disclose that I lead a condo management company) “That must be a hard job with everyone always complaining”. And to be honest, there have been times in the past that I wondered “what did I

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Top 10 Condo Association Management Myths

Top 10 Condo Association Management Myths

Top 10 Condo Association Myths As a CEO of a condo management company over the last 13 years, I have come across some interesting beliefs shared by board members, homeowners and people affiliated with the industry in some way, shape or form.  So here are the top 10 myths: MYTH: Hiring a low cost/cheap condo association company saves the condo association money. FACT: it will probably cost the association more money overall than hiring a more skilled and more expensive

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Does hiring a “BUDGET” Condo Management Company Really Save You Money?

Does hiring a "BUDGET" Condo Management Company Really Save You Money?

Does hiring a “BUDGET” Condo Management Company Really Save You Money? Condo association board members and homeowners are constantly pondering this question.  And the converse of the question is equally as important to address: Does it pay to hire a more costly condo management company?  I will address the first question in the following blog and answer the second question in a subsequent blog posting. Why Condo Boards Hire Condo Management Companies Before addressing the value of a “BUDGET” condo

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Top 10 Ways It Pays To Hire An Effective Condo Management Company

Top 10 Ways It Pays To Hire An Effective Condo Management Company

Top 10 Ways It Pays To Hire An Effective Condo Management Company One of the most common question asked by condo association board members AND homeowners is whether or not it is a good investment to hire a management company. This question is of particular relevance to smaller associations that are under 25 units. Coincidentally, the vast majority of condo associations in Illinois are under 25 units. For larger community associations and high rise condo associations, there is no doubt

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10 Ways Condo Associations Can Save On The Front End And Lose On The Back End

10 Ways Condo Associations Can Save On The Front End And Lose On The Back End

10 Ways Condo Associations Can Save On The Front End And Lose On The Back End As a community association business owner over the last 13 years, I have heard countless stories on how condo association boards hired low cost management companies to save money. But the question that really needs to be asked is “Does that really save associations money overall?”. I will attempt to address this very important question by posing the following 10 questions: Doesn’t an association

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Why some condo management companies charge low fees and deliver poor service?

Why some condo management companies charge low fees and deliver poor service?

Why do some condo management companies charge low fees and deliver poor service? This is a question that I have pondered for a long time. And this question really applies to all service industries especially the community property management industry. As a business owner, I get that businesses are usually looking to add new clients. But at what expense? So here are my thoughts on how some companies justify charging low fees and delivering poor service: 10. Companies just want

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How Much Should Condo Associations Have in Reserves?

How Much Should Condo Associations Have in Reserves?

How Much Should Condo Associations Have in Reserves? This is a question that is asked frequently by condo association board members and homeowners.  There is really no scientific formula that is applicable to address this question.  There are however a number of key factors that help determine the answer. Determine Funding Methodology.  Does the association want to operate on the principle of full funding, partial funding or under funding for larger scale projects?  Ideally, the association should have full funding

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Switching Condo Management Companies? Good Idea or Bad Idea?

Switching Condo Management Companies?  Good Idea or Bad Idea?

Switching Condo Management Companies?  Good Idea or Bad Idea? Are you considering switching management companies for your condo association, townhome association or perhaps your HOA?  When is it a good idea to switch?  When is it a BAD idea?  Then again, why switch if it won’t really make a significant improvement in how the association is managed. Here are the key areas to consider when contemplating switching management companies: Document the issues.  If it is a very minor issue, you

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The ACTHA Spring 2014 Trade Show is HERE: Saturday April 12, 2014

The ACTHA Spring 2014 Trade Show is HERE: Saturday April 12, 2014

The ACTHA Spring 2014 Trade Show is HERE: Saturday April 12, 2014 To get more information on the ACTHA event, click HERE. For the registration form, click HERE Click HERE for the full brochure. Attention board members, homeowners, and vendors serving the community association industry!  The ACTHA 2014 Spring conference is fast approaching. As a board member, you will have a chance to attend seminars that will help you make better decisions. As a vendor, you will have a chance to

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Top 10 Portfolio Condo Management Companies in Chicago

Top 10 Portfolio Condo Management Companies in Chicago

Top 10 Portfolio Condo Management Companies in Chicago Who are the best portfolio condo management companies in Chicago? It’s a question I have often pondered and thousands of board members around Chicago have thought about as well.  In order to answer that properly, the following questions  need to be asked and answered first: RESPONSE TIMES – What level of service are you looking for?  Do you want a guaranteed response time?  Or are you okay waiting a week, 2 weeks

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