Maintenance expenses make up one of the largest categories of spending for condo associations and HOAs. New building or old, keeping a property in good condition costs money, and condo boards should plan for them.
It’s worth remembering that it’s almost always cheaper to stay on top of maintenance than deal with much bigger (and more expensive) problems down the road. Fund your reserves for maintenance expenses so you are ready if any of these major maintenance issues rear their heads at your condo facility.
1) Roof Damage
In most associations, the governing documents stipulate that the care and maintenance of exterior and common areas are left to the board’s responsibility, whereas individual owners are responsible for maintaining their own units. Keeping tabs on the roof, then, is the association’s task. And it’s an important one.
Here in Chicago, our weather patterns can test even the strongest of roofs. From summer’s intense UV, wind, and storms to potential ice dams in the winter, damage to your condo’s roof can spell big trouble if your condo association management company isn’t paying attention to roof maintenance issues. Damaged roofs can be expensive in and of themselves, say nothing of the subsequent damage that can be caused by water entering the building. Your management company should have your roof professionally inspected at least annually in order to prevent bigger issues from emerging.
2) Exterior Structural Damage
A condo’s exterior can also get easily overlooked, but it’s no less important than any other part of the condo facility. Assessing the condition of the property’s structural integrity, its windows and doors, and masonry can tamp down unwanted property damage.
3) Other Safety Hazards
The condo association is responsible for maintaining shared common areas throughout the property. Safety hazards of any kind need to be addressed immediately. This can include landscaping hazards, improper snow or ice removal, unsafe conditions in the pool area, or hazards in the parking area, among others.
Property maintenance alone can be a full-time job. For Chicago condo associations who need help managing this responsibility, turn to us at First Community Management. Our team offers full-service association management services for your condo board and members. Get in touch today to learn more about how we can help you.