CBBarnett
Senior Member
Hi All, I was wondering if anyone knows of a reasonably active and useful site on trading condo ownership and condo management advice etc. I have a few issues with my current building but the condo world seems so fragmented and situation-specific I don't know exactly where to turn. I figured you Skyscraper friends might know a thing or two
My problem comes as I have joined the condo Board of my small building (~12 units) that's been around for many, many years (well past 1 lifecycle of core building components). It's all reasonably in good shape, has regular maintenance and the occasional issue that have been resolved, and maintains a reasonably funded reserve (~80% funded). As I start to see what choices and setup the previous board members have made, it's very difficult to get a sense of if these choices are good ones, and if a few of our current problems are actual problems or just how it is for small buildings. It's also difficult to know what to do about them because the information is lacking, inconsistent or not relatable (e.g. owner focused, rather than condo board focused; stories from large towers that have way more overhead and organization than would be sustainable for a small building etc.)
Ultimately, it comes down to the components that need to be understood to answer the popular question "what should our fees be?". To answer that we need to figure out some tricky stuff:
To give a concrete example, this year we had a leak from a broken pipe under a sink that flooded the unit's kitchen below. Huge pain, because the water hit a ton of the cabinets and floors in both units causing a small physical amount of damage but huge costs because it hit all the expensive stuff. The condo manager and their technicians determined the leak was an owner's responsibility because it fell on the owner's side of the property line, but it was recommended that the condo also had to submit an insurance claim to coordinate the cleanup and fix the damage to the common area / in between floors.
The result is a big jump in premiums for the board (simply by filing a claim) and a seemingly unwillingness to collect from the owner the deductible at least and pay for the repairs. All this is very not transparent and seemingly poorly organized as no one can seems to be able to tell the Board who is paying for what (1), benefits or costs of filling a insurance claim (2), who is doing what between two insurance companies, the Board, the owner and the management company (3). This is the most tangible example, however other smaller less expensive issues have similar traits.
Any advice or recommendations on a good website source of comparisons and advice on what we should be doing as a board?
My problem comes as I have joined the condo Board of my small building (~12 units) that's been around for many, many years (well past 1 lifecycle of core building components). It's all reasonably in good shape, has regular maintenance and the occasional issue that have been resolved, and maintains a reasonably funded reserve (~80% funded). As I start to see what choices and setup the previous board members have made, it's very difficult to get a sense of if these choices are good ones, and if a few of our current problems are actual problems or just how it is for small buildings. It's also difficult to know what to do about them because the information is lacking, inconsistent or not relatable (e.g. owner focused, rather than condo board focused; stories from large towers that have way more overhead and organization than would be sustainable for a small building etc.)
Ultimately, it comes down to the components that need to be understood to answer the popular question "what should our fees be?". To answer that we need to figure out some tricky stuff:
- We don't have a good sense on if we are paying for things that other boards do / don't pay for for a building of our size (e.g. snow clearing etc.)
- Of the things we should be paying for, we don't have a good sense on if we are getting a good deal or not
- We don't always have a good sense where roles and responsibilities lie between the board, condo management company and non-board owners on a range of issues (insurance, leaks, quotes etc.)
To give a concrete example, this year we had a leak from a broken pipe under a sink that flooded the unit's kitchen below. Huge pain, because the water hit a ton of the cabinets and floors in both units causing a small physical amount of damage but huge costs because it hit all the expensive stuff. The condo manager and their technicians determined the leak was an owner's responsibility because it fell on the owner's side of the property line, but it was recommended that the condo also had to submit an insurance claim to coordinate the cleanup and fix the damage to the common area / in between floors.
The result is a big jump in premiums for the board (simply by filing a claim) and a seemingly unwillingness to collect from the owner the deductible at least and pay for the repairs. All this is very not transparent and seemingly poorly organized as no one can seems to be able to tell the Board who is paying for what (1), benefits or costs of filling a insurance claim (2), who is doing what between two insurance companies, the Board, the owner and the management company (3). This is the most tangible example, however other smaller less expensive issues have similar traits.
Any advice or recommendations on a good website source of comparisons and advice on what we should be doing as a board?