However great your condo is, the board can mean the difference between a pleasant living situation and a hellish nightmare. The board is an important part of condominium life and should play a role in your decision to buy. Attending at least one board meeting is something which everyone looking at a condo unit should do before making the decision to buy.
What’s the board and why do you want one? The condominium board is a group of people who uphold the CC&Rs (covenants, conditions & restrictions), speech rule-breakers with warnings, fines and other methods of handling infractions, who vote on changes to the CC&Rs, building, policies and other issues connected with the property held in common.
You require a board in a new launch condo to make decisions, through an established procedure, about issues arising in the condominium. Whether it’s deciding when to replace the roof or mediating a dispute between two neighbors, the condominium board plays many necessary tasks that keep the condo running well. Or, at least, it should.
Condo board members should be happy to talk to you about the condominium, events, policies, CC&Rs, etc.. Be wary of board members that resist all polite inquiries concerning the board and its own conduct. While you do not necessarily need a board that interferes with your everyday life, you also don’t need a board that’s unapproachable.
How are meetings conducted? You should sit in on one and see. Are they reasonably orderly and effective, or do they devolve into arguments and name-calling? If you want additional hints about highline residences then you are at right place. Check out http://www.sgnewcondolaunch.com.sg/property/highline-residences-at-district-3/.
If the board employs a manager to oversee the day-to-day operations of the condo, how eloquent and professional is s/he? Do other residents speak well of their supervisor’s attitude and handling of the condominium’s affairs? A couple of disgruntled people out of ten may not be cause for alarm, but if most of the people you speak to are disgruntled about the supervisor’s conduct, you may well have reason to reconsider having to deal with them on an everyday basis.
Another facet of the condominium board is the operating budget and reserve. The operating budget covers things like yard maintenance, pool care, etc.. The reserve is for repair and replacement of items as they inevitably wear out or break. A condo’s reserve and operating budget ought to be flexible to meet rising costs and emergency issues.
A condo that cuts reserve money and amenities to keep dues low may be a less expensive option, but the costs of replacing a roof without a adequate budget for it might take a large assessment from each condo owner.