Tips for reducing condominium fees

Sep 23, 2024

A beautiful Maghreb-style apartment

Condominium fees can represent a significant portion of owners' budgets, especially in large cities like Casablanca or Rabat.

Whether it's for the maintenance of common areas, management fees, or maintenance work, these costs tend to increase every year.

However, there are solutions to lighten these fees and optimize their management. Here are some simple tips to effectively reduce your condominium fees.

Understanding the structure of condominium Fees

Before seeking to reduce fees, it is important to understand how they are distributed and where they come from. Condominium fees cover the maintenance and operation of the common areas of a building or housing complex. They are generally divided into two categories:

1. General fees

These fees concern the daily maintenance of common areas (elevators, stairs, gardens, hallways), lighting, security (guarding, surveillance cameras), as well as management and administrative fees.

2. Special fees

These cover the maintenance costs of common equipment (central heating, parking lots, swimming pools, etc.). These fees can vary depending on your usage and the services included in your building.

Optimizing energy consumption

Energy is often one of the most significant expenses in condominiums, particularly for lighting common areas, central heating, or elevators. Here are some ways to optimize this consumption and reduce costs:

1. Install LED lighting

LED bulbs consume up to 80% less electricity than traditional bulbs. By installing this type of lighting in common areas, you can significantly reduce the condominium's electricity bill.

Opt for motion detectors to limit lighting to only when spaces are used (hallways, stairs, garages).

2. Improve thermal insulation

If your building has a central heating system, improving the thermal insulation of common areas and facades can significantly reduce heat loss and, consequently, energy consumption. Insulation work often allows long-term savings.

3. Install solar panels

Installing solar panels on the building's roof can also reduce energy consumption for certain equipment such as lighting or water heating. Even though the initial investment may seem substantial, this solution can generate long-term savings while increasing the building's value.

Negotiating service contracts

Most condominiums hire service providers for the maintenance and management of common equipment. These contracts (cleaning, gardening, technical maintenance) can often be renegotiated to obtain better conditions.

1. Compare service providers' offers

It is important to compare the different service providers' offers. Don't hesitate to request several quotes and compare the offers to get the most competitive rates. Also, ensure that the service level remains in line with the condominium's needs.

2. Consolidate contracts

In some condominiums, maintenance contracts are fragmented among several providers (one for cleaning, another for elevator maintenance, etc.). Consolidating these contracts with a single provider can allow for volume discounts and reduce administrative costs.

Monitoring syndic management fees

The condominium manager is responsible for handling the building's day-to-day affairs, but their fees can sometimes be high. Here’s how to optimize the costs associated with this management.

1. Put the syndics in competition

Every few years, it is recommended to put multiple property managers in competition to check if the management fees offered are in line with the market. Changing managers can sometimes lead to a reduction in fees while ensuring quality service.

2. Limit additional services

Property managers often charge for additional services, such as managing general meetings, handling claims, or carrying out works. To reduce costs, it is essential to clearly define the tasks included in the initial contract and limit additional billed interventions.

3. Opt for a volunteer manager

In some small condominiums, it may be wise to switch to a volunteer manager. This means that co-owners manage day-to-day affairs themselves, eliminating the fees of professional managers. This option is more suitable for small condominiums, where management is easier to organize.

Properly manage works and renovations

Maintenance or renovation works in condominiums are often significant sources of expenditure. However, when well-planned, these works can lead to long-term savings.

1. Plan works in advance

Maintenance and renovation works should be carefully planned. It is important to establish a reserve fund to anticipate future expenses, such as facade renovations or equipment replacements. By avoiding emergency works, which are often more costly, you can better control expenses.

2. Seek financial aid

Some renovations, particularly those related to thermal insulation or energy transition, can benefit from subsidies or state aid. Inquire about the schemes in place in Morocco to fund part of the works.

3. Choose durable materials

When undertaking renovation works, opt for quality materials and equipment that are more durable and less prone to wear. This helps reduce maintenance and replacement costs in the long run.

Involve co-owners

Good management of condominium fees also requires active involvement from all co-owners. Here are some tips to better collectively manage the condominium:

1. Encourage responsible behaviors

Raise awareness among co-owners and tenants about the importance of limiting energy and water consumption in common areas. Good resource management can help reduce communal fees.

2. Actively participate in general meetings

General meetings allow important decisions to be made regarding the management of the condominium. It is essential that each co-owner actively participates, proposing solutions to reduce expenses and approving the most advantageous proposals for all co-owners.

Conclusion: Reducing condominium fees is possible!

By following these tips, you can effectively reduce condominium fees while maintaining a good level of service and maintenance.

Whether it's by optimizing energy consumption, renegotiating service contracts, or improving work management, many solutions exist to ease your condominium's budget.

Are you looking for a well-managed home with optimized fees? Check out the available offers on Housing Place and find the residence that meets your expectations!