Connected Management Blog

Being a part of a condo board is a highly complex job that is rewarding but comes with its fair share of challenges. A key dilemma for board members is to strike a balance between resident needs and upholding property values, both of which are critical for a smoothly functioning community. However, a number of recurring obstacles stand in the way of the most dedicated boards in pursuit of their responsibilities and duties.  Therefore, it's crucial to understand the most common condo board property management challenges and how they can be tackled so that boards can work to their full potential....

The end of summer marks the beginning of a critical task for those involved in condo boards- preparation for the upcoming budget. Of all board activities, budgeting is undoubtedly the trickiest and complicated, but it is key to keeping your building up and running while earning the trust of your owners.  Here’s a step-by-step guide to give you the confidence to master budget season, whether you self-manage a board or work with a property management partner. 1. Review Current Financials and Reserve Funds Scan your year-to-date financial statements to assess whether your operating budget is still on track or your reserves...

As a condo board member, you find yourself juggling multiple responsibilities in the vital interests of the larger community. More often than not, you have to step up in the role of a mediator in the face of conflict, whether the complaint is related to noise, unpaid assessments, or repetitive rule violations. If handled improperly, these issues can snowball quickly and throw you into a dilemma. However, with a clear process in place and the right support, boards can be well-positioned to tackle such residents with tact and professionalism to maintain harmony among residents. Record all Interactions The primary rule of...

Small details are frequently forgotten, especially if the problems seem like they need to be more urgent. But, a buildup of these little issues will inevitably result in more serious ones. If you're still unsure as to why keeping properties in the best shape through Chicago property management is essential, keep reading as we go over the primary benefits of it: Protected Property Value Property is a form of investment bought with the hope that its value will increase overtime. If you decide to sell it in the future, a well-kept property will generate more interest and sell for more money...

Conflicts are an inevitable part of life, and when it comes to property management, they can sometimes seem like a never-ending saga. But fear not, for there are effective strategies and tips to navigate these turbulent waters and find the calm after the storm. So, let's dive into some tried-and-true tips that will help you sail smoothly through the stormy seas of property management conflicts. Open Lines of Communication Communication is the cornerstone of conflict resolution. Ensure you have open channels for residents, tenants, and property owners to express their concerns and grievances openly and transparently. Regular newsletters, emails, and meetings...