Here in Uptown New Orleans, near Audubon Park, is an eight-unit condominium development converted into condos in 2009 and is part of the growing industry in real estate allowing for full ownership without the direct responsibility for property maintenance and upkeep.
The 411 on Property Management
Condominium ownership in its current form has only been around for sixty years and the benefits of private financing and shared maintenance are what is allowing this sector to grow every year. Most people buy into a condominium because they don’t want to cut the grass, have the responsibility to hire and determine what contractor should replace a roof, or manage any other components of a structure.
A question we hear all the time is, “Is a condominium right for you?” and understanding all facets of this legal structure and its management will help answer that question for you.
We can break down the management operations into three distinct areas:
- Administrative services
- Financial management
- property maintenance
Let’s talk about property maintenance
If you rent an apartment or house and something breaks, you simply call your landlord, and the burden is shifted from you to them instantly. If you own a home and something breaks, the burden is yours to find the appropriate vendor to diagnose the problem and then trust their recommendation for the repair. All the while you are disrupting your daily schedule to coordinate these meetings.
The bottom line is, condominium ownership has the financial benefits of ownership without the responsibility of maintenance and costly repairs.
Property Managment Takes the Responsipility
Property management solutions, like Certain Management, take the responsibility of repairs and maintenance, accentuating this with a proactive approach to weekly inspections. Monitoring service providers’ performance is fundamental to third-party management. Whether it’s an 8-unit property or 450-unit property, all structures have roofs to maintain, exterior surfaces, and interior maintenance and repairs to make the property safe and comfortable for the tenants. Whether the exterior surfaces are composed of brick, vinyl, stucco, masonry, limestone, or another product, each has a specific maintenance need to be monitored, inspected, and maintained on a preventative maintenance program. A professional New Orleans property management firm will keep property owners informed of the maintenance needs and budget appropriately to keep the physical asset without disrepair.
Property maintenance in New Orleans is just one of three parts to a condominium association, and each is equally important for a condominium association. Keep following Certain Management to learn more about what you need to know about condominium associations in the Greater New Orleans area.
