Condominiums, though smaller than full-sized townhomes and other units under HOA management, can be the perfect housing solution for many people. Generally speaking, lower mortgage payments, coupled with a built-in community and typically convenient location, makes them ideal for anyone from the first-time real-estate buyer to the aged individual looking for a retirement community. Condos really are the unsung heroes of housing!
If you’re part of a condo board or HOA management organization, you no doubt want to create the best environment possible for your residents. Of course, this is a nuanced, complicated topic that’s a little difficult to digest within the confines of a single blog post. However, Gassen, a provider of property management services, has some signs below that your establishment of condominiums is providing a fulfilling resident experience.
You Don’t Have to Look Hard to See if Your Condo is Holding its Own
If you’re a board member, periodically ask yourself if your residents are happy, then ask what you’re doing to improve or maintain this aspect. Of course, the easiest way to get answers to this somewhat vague question is to ask your tenants yourself or seek feedback via online property management services, but there are other ways to tell whether your residents are content:
● Low vacancy rates compared to the rest of the area. Regardless if your condo complex hosts renters or condo owners, take a good look at your vacancy ratings and compare them to surrounding complexes of a similar calibur. No matter how happy your residents say they are, if there’s a high degree of vacancies, chances are there’s an issue with either your management or your fees.
● A well-kept complex, inside and out. While this might not directly signify that your residents love your complex, it’s a little hard to feel content in dingy, poorly maintained surroundings. Make sure you’re investing in interior maintenance in addition to outdoor landscaping, and watch your residents’ satisfaction skyrocket.
● A lack of drama within the community. It should feel relaxing to walk the halls of your condo complex, and residents should treat one another with warmth and compassion; they are neighbors, after all. If they don’t, somebody in the equation is certainly unhappy.
Want to Improve Your Condo Complex? Gassen is Here to Help
We’re a multipurpose property management company with expertise in everything from conflict resolution to accounting property management. Let us bring quality to your condo complex. For more information about our services, give us a call today at 952-922-5575.