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5 ways for high rise condominiums to save money in 2025

Condo Control

Densely populated high rise condominiums have always been budget conscious. In order to avoid angering residents by issuing hefty special assessments or maintenance fee increases, boards and managers are doing what they can to offset the high cost of maintaining a condo. But this year is different. million for a 300-unit building.

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Reserve study requirements by state

Condo Control

Motivated by the Surfside condo collapse, lawmakers don’t ever want to see another community in the same position as the Miami condominium ended up in. Condominium disclosure statements must include the current balance in reserves, and the most recent reserve study, states Section 81-409.

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Community association trends: What’s changed in 6 years

Condo Control

cooperatives, HOAs, and condominiums, provide anonymous answers to a survey company on behalf of the Foundation. If you live in a condominium or homeowners association, does your community have a reserve study to help plan for repair and replacement of major components owned by the community? This survey is completed every other year.

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What’s the Difference Between an HOA vs. COA vs. POA?

Bay Property Management Group

These HOAs are run by a board of directors and usually collect monthly or annual fees as a means to cover the costs of common areas, amenities, and general maintenance of the community. A condominium owner’s association (COA) is another one that is very similar to an HOA. What is a COA? Many are in the suburbs.

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Here’s What Active Adults, 55+ Want in an Condominium

Mem Property Management

What Do Senior’s Want in an Condominium? #1: They’re tired of the maintenance and upkeep that’s required, which is often a driver of downsizing to an community. Host events that encourage residents to mix and mingle. Today’s 55+ have owned their own homes before.

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mem Property Mgmt to be a Exhibitor at CAI-NJ Expo

Mem Property Management

mem property management is privileged to serve some of the finest communities throughout New Jersey including many of the major developers and builders as well as communities as diverse as small ocean-front condominiums to large master-planned communities with several hundred homes to age-restricted retirement communities.

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Achieving the Dream: Living Off Rental Property Income

Real Property Management DC Metro

You’re on the right track to depend on your rental income if it comfortably pays all of your bills, including your mortgage, property taxes, insurance, maintenance fees, and personal living expenses. You may maintain steady occupancy and maximize your rental income by combining single-family homes, apartments, and condominiums.