How often do major projects in condominium management typically occur?

Major projects in condominium management typically occur every 20-25 years due to the nature of the maintenance and replacement cycles associated with building systems and components. This length of time aligns with the longevity of significant structural elements and amenities within a condominium, such as roofing, plumbing, HVAC systems, and elevators, all of which require substantial investment and planning for replacement or major renovations after decades of use.

As these elements reach the end of their useful life, property managers and boards of directors conduct assessments to determine the need for major repairs or replacements. This involves budgeting, planning, and in many cases, special assessments or increased reserve funds to handle these large expenditures effectively.

While some minor projects or maintenance activities may occur on an annual basis, they typically don’t carry the same weight or financial implications as major renovation or replacement projects, which necessitate a longer time frame for planning and execution.