While condo conversions benefit multifamily owners by shrinking the supply of apartments, condo buyers are typically renters, so conversions won't necessarily lead to a jump in occupancy rates. Condo Conversions
If you're looking for a condominium, checking out the condo board is imperative. The board is an important part of condo life and should play a part in your decision to buy. You need a board in a condo to make decisions, through an established process, about issues arising in the condo. Whether it is deciding when to replace the roof or mediating a dispute between two neighbors, the condo board performs many necessary tasks that keep the condo running well.
Condo board members should be happy to talk to you about the condo, events, policies, CC;Rs, etc.
Another aspect of the condo board is the operating budget and reserve. A condo's reserve and operating budget should be flexible to meet rising costs and emergency issues.
The condo board is an important part of condo life and should be taken into consideration when you are considering a condo for purchase.
