When doing capital projects, build in flexibility.
When doing capital projects, build in flexibility.
My gut feeling told me that something wasn’t right, and my intuition told me he had to go.
Keep the residents informed about what’s happening, any slowdowns, and the end result.
Use professionals to make a list of needs – and their costs – and then borrow accordingly.
Go out and get actual bids on long-term capital improvements.
It’s important for boards to know that it’s OK to hit the reset button when a capital project gets bogged down.
We employ an “analysis spreadsheet” that compares pricing on the base bid with the pricing for all the alternate work and various options to consider.
Your attorney should be involved in all alterations and capital improvements.
No reserves means no way to pay vendors – which means you need a plan.
Balancing building repairs and shareholder desires can be a tightrope act.