The Top 8 Tips Recommended by Toronto Property Management Companies for Keeping Your Condo Values High

Condominium living is highly popular in and around the Toronto area. More than a quarter of a million people live in these units, which range from ranges of tall condo towers to small clusters of townhomes.

That number has been growing for quite some time. From 1999 onward, there have been more than 120,000 condo units completed. Close to half of those were done from 2008 onward, following the global economic downturn. Property values have also fluctuated significantly during that time, hovering anywhere between 300,000 to 400,000 dollars in a given year.

Each of these units is governed by a community, and many have Toronto property management companies assisting them. Good property management companies can help make condo living enjoyable. There are many maintenance issues that these companies can cover as well, as they are included in the community fees paid by residents each month.

While property management companies in and other areas throughout Toronto provide valuable services, often at reasonable fees, there are some services that a condo owner must perform on his or her own unit.

These services impact your property values, the condition of your condo, and your overall quality of life. It is therefore highly important to maintain the interior of your condo, so that problems do not affect your neighbors and so you can further enjoy your condo lifestyle.

Here are just a few areas that we here at ICC® Property Management see on a regular basis with condo residents. This list of recommended maintenance issues comes from our extensive experience as one of the top Toronto property management companies.

1. Maintain your fridge and freezer.

This appliance is essential in the modern household. However, many people do not maintain it properly. Not only can this create a problem in your own condo, but it can have an effect on your neighbors as well. Specifically, many refrigerators are hooked up to your water supply, particularly if you have an automatic ice maker and water dispenser.When these connections leak, water can start to seep, meaning an unpleasant surprise for your neighbors if it carries on undetected for a long period of time. It can even start to cause mold and other damage, if mold has already formed contact a Toronto mold removal company such as Ferro Canada. We recommend cleaning your refrigerator on a regular basis, and even pulling the refrigerator out to clean the back coils once per year. Check under the fridge as well to catch any leaks as early as possible.If you have a problem with this appliance or any others in your condo, you could try calling any of the Toronto property management companiesto get a recommendation on someone to service the appliance, as many will keep this information on hand for residents.

2. Check your dishwasher periodically.

The same issues plaguing your fridge could also be causing a problem with your dishwasher: specifically, managing water. Loading the dishwasher properly and keeping it free of debris will help. Checking the connections periodically will also help you stop problems early, before they can cause significant damage.

3. Take care of your fan coil units or heat pump units.

Particularly during extreme weather, these devices are exceptionally important. You can avoid significant complications by having them checked out regularly. Examine the filters and replace them as needed in order to avoid unnecessary strain on the system. Additionally, check to see if there is any condensation and empty the drip pan inside the unit if full. A full drip pan is a sign of a clog in the system which can leak to units below if left unattended. If you want an HVAC professional to come in and do a thorough cleaning, most Toronto property management companies can direct you to a good company that they recommend.

4. Look after your water heater.

If you have an in-unit water heater, you should be able to locate it and tell whether it is running properly. Also, make sure you know about the quality of the water in the area where you live. Sediment can build up in the base of a water heater, requiring periodic cleanings in order to avoid premature failure of the water heater.

5. Do regular visual inspections.

Walls and doors can suffer a lot of wear and tear. Hinges, doorknobs, and locks can quickly become an inconvenience if they are not functioning properly. And if you ever try to sell your condo, you want the walls to give off the impression of being freshly painted and untouched. The property management company in Toronto often has contractors on call that can help you with these types of issues if they arise.

5. Watch for signs of pests.

While you may keep a clean household, you may find that your neighbors do not. This can create the unfortunate situation of overflow into your unit. Watch out for droppings that might indicate mice and keep an eye on signs of any bug problems. There are many effective ways to treat both types of pests, and these critters can cause health problems for you and your family if they are not handled. If it becomes an issue, be sure to notify your property management company so they can take effective action in case it is a building-wide problem.

6. Test your safety systems.

You should have smoke and carbon monoxide detectors installed. Change your batteries every time you change your clocks to ensure you and your family members are safe. How often do you usually check your smoke detectors? If you still need convincing, consider this:37% of home fire deaths took place in homes that lacked smoke alarms.23% of deaths in home fires took place in homes where the smoke alarms were present, but did not operate correctly.

7. Conduct any necessary outdoor maintenance.

Many outdoor issues are considered common elements that are handled by the community. However, you might be responsible for staining your own deck or maintaining certain other exterior components. If you are unsure, check the rules and regulations and clarify with a property management company in Toronto or your community.

8. Examine the ceiling

If you have neighbors above you, then you may get caught in some of their water leaks if they are not careful. Or, if you live right under the roof, you will likely be the first one who notices when there is a leak. Keep track so that you can notify the property management company if a problem arises.

These are just a few measures you can take upfront that will save you time and money in the long run when you avoid having major repairs or replacements. It also allows you to budget so that you can plan for replacements that will not catch you off guard.

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