article thumbnail

5 ways for high rise condominiums to save money in 2025

Condo Control

Densely populated high rise condominiums have always been budget conscious. Reduce administrative costs Administrative costs are any expenses incurred to maintain day-to-day operations of the condominium. Chatbots Chatbots can be installed on a condominiums website to answer basic questions from prospective buyers or residents.

article thumbnail

How to increase the annual budget while making your condominium more bike friendly

Condo Control

Would you consider your condominium to be bike friendly? Download our free bike rack lease template But bikes have become increasingly popular , especially in high-density areas. of bike amenity space into their new condominium. If youre not a cyclist, you may have not given this question much thought before.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New 2025 condo and HOA laws for U.S. states

Condo Control

Amendments were made in 2024, requiring condominiums with 25 or more units to have a website. HB 1203 makes it clear that HOAs need a website, just like condominium communities. Mandatory reserve fund requirements This news should not come as a surprise to any Florida condominium community. Recent U.S.

article thumbnail

What to do when the demand for condo/HOA parking and storage is high

Condo Control

Take paid condominium parking and storage as an example. Inventory management waitlists Once the maximum number of spots or spaces have been leased, condos and HOAs can create waitlists to address demand for these shared assets. The board can use this data to determine if the cost of leasing valuable assets should be increased.

Lease 130
article thumbnail

Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. Are you taking that big step and purchasing your first multifamily property? Or are you an old pro adding another investment property to your real estate portfolio?

Property 200
article thumbnail

California’s New Real Estate Laws for 2025: What Investors Need to Know

Beach Front Property Management

SB 326 (HOA Exemptions & Separate Condo Rules) Condominiums managed by HOAs follow a different inspection process but must comply with SB 326. How to Prepare for These Changes Review lease agreements to ensure compliance with rent control laws. Subsequent inspections must be conducted every six years.

article thumbnail

Managing paid condo and HOA parking and storage

Condo Control

But January can be a heavy month too, especially if you help manage a large condominium or HOA community. January is often the time when residents renew leases for parking spots, boat and bike racks, and locker spaces. Bike rack spaces, for example, which are often limited, may be leased out on a first-come, first-served basis.