|
Tips 1
Las Vegas Condo Tip for Investment
Tips for expanding and maximizing Your Las Vegas Condo Investment.
Renters will be found in any condo building, as renting of units may not be prohibited by condo bylaws in Las Vegas. This is good for flexibility when you become a condo owner, but find out how many renters are in the building. If it's primarily renters, largely investors own the building, and they may not share your standards of operation and maintenance. You may also find less of a sense of community in the building and on the board of directors.
Condo documents are necessary to evaluate any condominium project before you buy. Sellers should have them on hand for you to review on site, and if you have an agreement to purchase, they should be handed to you without hesitation. These include the Condominium Plan, financial statements and budget, the reserve fund study, minutes of the recent annual general meeting and even board meeting minutes, so you have insight into how the complex is being run. If you purchase, your lawyer will obtain an estoppels certificate before closing, which will guarantee no surprises in the monthly condo fee or charges owed by the seller.
Tips 2
Las Vegas Condo Maintenance Tips
Condo Maintenance Tips
Here are some of the most common areas in a condo that will require regular maintenance and should be taken care of by the home owners associations.
Plumbing - In properties where you will be gone parts of the year faucet washers and valve seats should be replaced periodically rather that waiting for a leak to develop. Owners can also sign up with a low-cost monitoring service like TimeWise to monitor and take care of plumbing problems even when the owners are away.
Fans & Filters - Heating fans and filters should be maintained and replaced on a regular basis. Poorly lubricated fans or dirty filters result in greater wear and tear on the heating system as well as inefficient fuel consumption.
Air Conditioning Systems - Central chiller units for air conditioning require regular maintenance of the compressor, pumps, fans, filters and driers as well as attention to the refrigerant and water treatment. There are a number of different types of air conditioning systems. While non-glycol systems will require draining in the fall and start up each spring, glycol systems may be somewhat less energy efficient.
Boilers - Boilers need regular maintenance with attention to the chemical composition of the water, burner cleaning, elimination of air from the system and pump maintenance. Without proper water treatment, piping will oxidize and mineral build up will coat the interior of the boiler. This results in inefficient heating and reduces the life of the boiler.
Pools - Pools are a great amenity for any building but the safety of the residents can only be achieved with proper maintenance. Weekly water samples must be taken to the Provincial laboratory to test for bacteria and the water must be tested at least daily. Chlorine and PH levels must be adjusted to ensure the water is safe. Hot tubs are a particular problem since the warm temperatures are a great environment for bacteria.
Thanks for your interest and if you have any questions or comments feel free to call or write us:
Phone: (702) 444-4321
Email: info@one-lasvegas.com
|
