There are questions that you should ask your potential neighbours before deciding on buying any condo for sale. You should also check these with the property management association. Before are few of them:
- What are your biggest issues or complaints?
Before knowing what they are happy about, ask about the usual issues they encounter. Ask about the quality of property management. Is the association quick to fix issues? If not, then you may want to evaluate your options.
- What is your management team like?
Interview the manager of the condo or someone who is working there full-time. You would want to speak to the people living there and ask about the management. A gruelling experience is what to expect from a lousy manager.
Some of the condos for sale do not have managers, so the residents will make decisions together. It depends on your preference, but both have their advantages and disadvantages. Which one do you prefer? That is your decision to make.
- What does the insurance cover?
It is a must that you read the copy of the association’s policy, particularly the insurance. Make sure that you understand what is covered. You also need to know the accurate estimates.
- Is there a space available for storage?
Some condos, but not all, offer personal spaces for their residents. Check if there’s a garage or an attic where you can store your winter skis, luggage and store bikes, amongst others.
- Do you fully understand the monthly association fees?
Most of the time, the monthly association fees are computed or calculated on how many units are there. They are computed by how much will it cost to maintain the building— whether it is self-managed or managed by professionals. They also contribute to funds that are kept for litigation and any possible major repairs that may occur.
Get a breakdown of the monthly dues and make sure you understand what you will get from the payments you are about to make. Does it satisfy you? If not, then check on other available condos for sale.