Pro Tips for Condo Buyers - What you should know

Here’s a list of some great questions and information pertaining to condo living.

Ask of the Association -Request a copy of the minutes from the condo association, this can offer up some great insight.

Are there any pending lawsuits or on-going litigation against the complex? This will avoid the surprise of receiving a special assessment for your portion of a lawsuit judgment.
Are there common complaints or issues that have not been resolved?
Are condo fees paid regularly by members?
Are residents happy with the condo association board?
Is the association properly funded? Make sure there is a sufficient reserve fund for the type/age of complex you are considering. Older buildings have more maintenance due to end of life replacement on major systems and fixtures.
Are there any anticipated special assessments?

Ask of Management
Is the complex managed by the owners or by a professional management company? Try to personally meet any on-site managers.

Insurance
Does the association have proper insurance policy to cover the entire complex?

Renters
How many units are renters vs. owners?
Review rental policies if renters are allowed in complex.

Moving restrictions
Some high-rise developments have specific rules on when your can move your belongings into the building.
Do you need to reserve the elevator for your move?
Are there any moving deposits to cover damage to elevator?

Keys
Most high-rise condominium corporations require that management have a copy of your key or that their master key fits your lock. This is to allow access in case of emergency repairs.

Parking
Parking is typically limited and many times assigned to unit owners. If you have two cars and only one space and park your car in another spot, can your car be towed. Make sure you know what the policy is before making a costly error.

Pets
The condo bylaws will detail any restrictions on pets: type, size, and number allowed. You don’t want to have to remove a family pet because you didn't understand the rules.