Panama, Casco Viejo, Casco Antiguo
Hate condo meetings? You are not alone. At their best, they are boring. At their worst… they put to the test your every skill , including – and not limited to- pranayama breathing. Spending your evening with your family looks like a really nice option. So is walking on top of nails. Anything but a condo meeting!
But here is the thing: whether you made an investment or you live in the building, the first step to long term value is your active involvement.
In Casco Viejo, where condos are small, this is particularly important. Do you really want big changes voted without your consent or even your knowledge? with only a few units on each building, this is perfectly possible. Make sure you are always at the table, and advocate for everyone to take and active roll. After all, most buildings in Casco (with a few exceptions) only have between 4 to 10 units.
Casco´s best buildings so far have shared that characteristic: owners who live in the building, are part of the board of directors.
They make for a healthier building, and a prosperous one. Investments are made in the right places, administrators and concierges tend to do a better job, and they are able to compete shoulder to shoulder with brand new condos that tend to have more amenities and even better design. They keep and raise their values in both rents and sales.
As you can imagine, the opposite is also true.
There are many ways to protect your investment. But very few as important and proven as living in the condo you buy or keeping a close eye / presence at the owner´s association meetings and a line of communicating with the board and administrator. If you feel they are not doing their job, you´ll have the tools to change it. And sometimes that energy is all a building needs to come back around.