Luxury condominiums are hotter than ever in urban settings around the state. For condo residents this means it is time for renovations in order to compete with newly constructed high-rises. Time, wear and tear, and excessive traffic contribute to a condominium’s need for interior renovations. Before beginning any renovation, it is advisable to evaluate HVAC, wiring, and electrical panels.
To be successful, aim for the highest standards of design, luxury, and sophistication. Form a renovation committee and plan a feasibility meeting to discuss remodeling ideas and budgets. Include an architectural design and “wish list.” Consult with a reputable architect and interior designer who can assist in selecting long-lasting materials.
After obtaining proposals, prepare a preliminary budget. If project fund planning has been done properly, the money for the project should be readily available, and therefore, owners will not have to worry about an increase in fees or a special assessment. If not, the board of directors may wish to consider a line of credit, financing, or a special assessment.
Ensure that your construction project has an on-site supervisor providing total accountability from start to finish. Designate one person to be the contact person, and keep them informed of the job’s progress.
Be sure to plan adequate storage space for tools, equipment and materials. Prior to construction, remove pictures hanging on walls and valuables in adjacent rooms or units. These items may be damaged due to vibration or movement.
Make sure there is a restroom available for construction personnel. Keep residents out of the construction site during working hours. Post notices and maintain construction schedules to ensure safety. It is crucial that employees and subcontractors be given directions and daily notice of changes. Communicate with the residents, board of directors and staff. Make sure the crew cleans and packs up all materials at the end of the day. Be sure to barricade and section off all areas that may be hazardous.
Decide on circuit breaker locations for all switches, fixtures and receptacles. This will be determined by the locations of studs, support posts, plumbing and duct work.
Be sure to have your professional property management company oversee the work. Your management company will assure that a licensed and insured contractor performs this work. Before work begins, bids must be obtained and contractors must submit a valid certificate of insurance. The contract will need to address how any extra costs or change orders will be handled. The management company will also coordinate with the association’s attorney to review the contract and make sure the association is protected. These are just some suggestions and steps you can take to provide satisfaction from your residents to improve the character of your condominium. For more information about how to select the right property management company and managers when preparing for renovations, visit www.apmanagement.net or call 305-867-2245.
Marcy Kravit is a Licensed Community Association Manager at Atlantic l Pacific Management and has earned the PCAM designation from the Community Associations Institute. The company has offices located in Boca Raton and Bay Harbor Isles. To inquire about their services, please call 1-800-914-1179 or email firstname.lastname@example.org