Connected Management Blog

Have you ever felt uncomfortable when your condo board revealed there was a “special assessment” for a surprise repair? You're not the only one feeling this way. Surprise expenses from rooftop leaks, elevator malfunctions, and burst pipes can seriously interfere with your community's finances. The fact is, many of these emergencies are preventable. The real issue is the distinction between preventative maintenance and reactive maintenance. By understanding what costs you could incur and budgeting accordingly, boards throughout Illinois would be able to save money for the owners and run a building smoothly without the late-night repair bills. What Preventive vs Reactive...

Coordinating repair, maintenance, and improvement projects is perhaps the most critical and most stressful aspect of being on a condo board. From landscapers to elevator techs, coordinating multiple vendors can become a full-time job. With the proper strategy (and with the proper support), vendor management doesn’t have to be daunting. With property management for condos done right, your board can save time and money while keeping your community running smoothly. 1. Why Vendor Management Matters for Condo Boards Providing essential services is the duty of every condo association, including cleaning, landscaping, snow removal, security, HVAC maintenance, and more. Towards this end,...

The end of summer marks the beginning of a critical task for those involved in condo boards- preparation for the upcoming budget. Of all board activities, budgeting is undoubtedly the trickiest and complicated, but it is key to keeping your building up and running while earning the trust of your owners.  Here’s a step-by-step guide to give you the confidence to master budget season, whether you self-manage a board or work with a property management partner. 1. Review Current Financials and Reserve Funds Scan your year-to-date financial statements to assess whether your operating budget is still on track or your reserves...

Rent collection is a major part of property management in Chicago and condo management. It’s what reels in your return on investment from the property you buy. However, collecting rent from tenants can be particularly challenging for property owners and managers. If you’ve struggled with a problem like this, it’s understandable. The average rent in Chicago is around $2000, which puts much money at risk without the right collection methods. What Tools Do You Employ That Allow Tenants To Pay Rent? New landlords and property managers don’t necessarily know the best tools for rent collection. Therefore, we are here to help....

As a property owner or manager of a small to medium Chicago condo, you may feel like a management company is out of your reach. That has never been further from the truth. The benefits that a talented Chicago property management company can bring to your smaller property is just as much as the larger units. That’s where Connected Management comes in. We work specifically with those smaller to medium condo units to help take the hassle out of managing your association. Connected Management takes care of all the minute details so you don’t have to. Take a look below at...