Improvement Planning for Condominium Associations
planning is one of the most important things condominium board members should
do. Capital improvement planning
benefits the association by:
the risk of special assessments or unplanned or unnecessarily dramatic
board members keep the big picture in mind, and thus:
the jobs that need to be done.
sure important improvements are not forgotten or ignored.
jobs done in quantity, and thus more efficiently.
For example, instead of doing three cement jobs at different times,
with good planning all might be done at the same time to save money.
many repairs done on a scheduled basis, thus eliminating the high costs of
on the priorities and future of the association.
Capital Improvement Planning Process
planning, in many instances, is related to the budgeting process.
In a condominium association, it typically starts with questions –
What will need to be repaired or replaced in the coming year, or in the
next 5, 10, or 20 years.
What new projects does the association wish have done.
a condominium association will hire an engineer to conduct a reserve study to
determine the useful life expectancy of the assets of the association.
The purpose of the reserve study is to help the association plan for, and
provide sufficient funds in its reserve account, to minimize the risk of having
This paper was prepared by Enlan Condominium Management
Company, providing property providing management services based on the
principle of stewardship. enlan.com
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