Ripping off the Band-Aid: Getting Real about Repairs
Image courtesy of Unsplash
Don’t settle for surface-level solutions.
No one likes to get hit with a huge cost that puts a dent in your co-op or condo board’s budget. A large repair or construction project could dip into the board’s reserves or even impose a special assessment. It’s understandable, then, when board members hesitate to make such big changes and instead opt for “band-aid” quick fixes. However, pushing out major repairs in favor of cheap, temporary solutions only delays the inevitable and costs the board more long-term, not to mention the increased likelihood of the cheap repair spontaneously going bust. Consider if your board is putting band-aids on these issues:
Bad Boilers: If constant boiler repairs are putting the board’s budget in hot water (and the residents in cold water), it may be time for a replacement. Plumbing and HVAC systems are generally the responsibility of the co-op or condo board and can lead to a building-wide crisis if not cared for properly. If the boiler is noisy, leaking, and has visible corrosion, it is probably time for a new, energy-efficient replacement. It’s also important to look for corrosion in the steam risers to ensure maximum efficiency of the new boiler.
Laundry Room Blues: If your washing machine repairman is about to go on an expensive vacation courtesy of your board, it’s probably time to upgrade. Even industrial washing machines aren’t made to last over 10-15 years, which is why excess noise, water leaking, and shaking could all be signs the machine is ready to retire.
Unwelcome Neighbors: The absolute best way to address bugs and pests in your building is prevention. The cost of a monthly exterminator spraying kitchens and bathrooms is pennies compared to handling an infestation. But even the cleanest building may unfortunately see a few pests - this is New York City, after all. That’s why it’s best to pay for the highest quality, most extensive service possible from the start of an outbreak.
Energy Efficiency: If your co-op or condo building’s energy grade is low and energy costs are high, it will be worth it to spring for a new setup. Dipping into the co-op or condo’s reserves might actually be wise, in this case, since the monthly cost savings will more than cover the expense within a few years.
It’s time to get real about expenses. An experienced co-op and condo consultant like The Folson Group can help facilitate big-time repairs with a reliable review of your building’s overall operations, vendor negotiations, and project oversight. Contact The Folson Group today and ease the sting of ripping off the band-aid!