TO WAIVE OR NOT TO WAIVE, THAT IS THE QUESTION

By Darlys Walker

Published August 20, 2014

Yes, it is budget time. YAY!! During the next 3 months the most commonly heard question will be, “Should we or should we not waive reserves?” There are all sorts of arguments for either decision. But that is true for most any decision. The question SHOULD be, which answer better serves the community? And that would be a resounding NO, you should not waive reserves.

Homeownership is the single largest investment most people make in their lifetime. To protect that investment and to ensure its value remains stable, it must be maintained properly. Most individuals aren’t able to come up with a large sum of cash to pay a special assessment for the funding of projects such as a new roof, new elevators, asphalt repairs etc.

Let me give you an example. You purchase a new car. Every 3500 miles you have the oil changed so that the engine remains in good working condition. Your oil change costs about $65.00 each time you have it changed. Or…perhaps you don’t ever have the oil changed. In fact you don’t pay it any attention at all. Your engine throws a rod, due to a lack of preventative maintenance and upkeep, and now you have a single repair expense of $3,000 to $6,000.

Wouldn’t it be better to be spending a little over time as opposed to a lot all at once?

Darlys Walker, Founder and CEO of Condominium Concepts Management, Inc. (CCM), is recognized for her straight talk, subject matter expertise, and valued insights regarding real

state management, leasing, and HOAs. Her company serves a diverse portfolio of properties, from 16-units up to 600 as well as large mixed-use developments.  

   From its beginnings in 2000, CCM has become a well-respected asset manager and now works with over 100 associations with 16,000 units served by over 300 employees. Darlys and her team deliver resources and responsiveness through six regional offices - in Orlando, Miami, Jacksonville, Charleston, Nashville and Atlanta.

   Darlys Walker is best known for her passion and precision, understanding that the only difference that matters in today's demanding marketplace is service delivery ... doing what is promised and what is right. She knows that every community serves two masters ... the property owner/developer and the resident/homeowner. "If we are not equally responsive to both, we are not doing our job," she states.  

   Her clients say it best: "Darlys really knows her stuff" ... "at the top of her profession and it shows in the caliber of her clients" ... "delivers quality resources that match up well with needs and expectations that are really rigorous."  

   She is a licensed Real Estate Broker in four states, holds an Associate's Degree in Marketing and has earned the Accredited Real Estate Manager designation from the Georgia Institute of Real Estate Management. Also she is one of few certified as a Lead-Based Paint Abatement & Removal Trainer in Georgia.

   Darlys Walker and her team have been selected to manage the condominium conversion process and day-to-day operations for many of the Southeast's most high-profile condominium communities including luxury high-rises, mid-rises and garden-style homes. Most recently she has been recognized as an expert in 're-versions' of communities from condominiums to leased homes, as well as repositioning projects. A visionary and a tireless perfectionist, Darlys demonstrates hands-on leadership, working individually with each client and staff associate to achieve defined business outcomes and satisfaction.  

  For more information about Darlys Walker and Condominium Concepts Management, Inc. please visit www.condominiumconcepts.com.

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