Bad Neighbours Hurt Property Values
Bad neighbours are annoying. You already know that. What you may not know is that they can also be expensive. In fact, a bad neighbour can cut your property value by as much as 10%, according to the Chicago-based Appraisal Institute.
Messiness, unpleasant odours, loud music, general disregard for your fellow neighbour—it can all hurt your pocketbook. In a condo, we all want a safe, enriched, and enjoyable place to live and one that will ideally grow in value. Here are some things we all can do to help!
1. Keep it positive online
While positive reviews are welcome, try to avoid airing your dirty laundry publicly. It can deter future buyers and lower the value of your home. Instead, bring your issues to the attention of your condo management team and board. They can usually be resolved amicably.
2. Clean up after your pet
You’d be surprised how often people don’t clean up after their pets in elevators, stairwells and other common areas. We understand accidents happen, but please take care of it.
3. Put out your smokes
Flicking cigarette butts off balconies can not only burn holes in your neighbour’s patio furniture, but it’s a serious fire hazard. If caught you are subject to a very hefty fine, sometimes tens of thousands of dollars. Please dispose of your smokes in an ashtray.
4. Don’t light up in the stairwells
Take it outside. It can waft into hallways and other common areas and, again, you are subject to fines. And speaking of which…
5. Be conscious of your cooking
We know it probably smells fantastic, and your neighbours probably are jealous, but if you’re cooking strong-smelling food, deep frying, or pan searing with a lot of smoke, please remember to turn on your fan or open a window. It’ll also help you avoid an unwelcome dinner-time fire alarm.
6. Properly toss your trash
Please follow your building’s rules for disposing of trash. That means sorting your recycling, flattening your boxes, and not leaving bags by the garbage chute. Nobody is coming around to collect that. If it can’t go down the chute because it’ll shatter or it’s too big, take it down to the garbage room.
7. Try to keep the noise down
Despite best efforts to ensure noise doesn’t travel between suites, some things can’t be helped. Barking dogs, rambunctious kids, and loud music can all be heard in the halls outside your door. Also, take it easy on your floors. Your downstairs neighbours will appreciate it.
8. Treat it like home, because it is
No rule is a substitute for courtesy. We can’t force you to care about where you live and the people around you, but we promise it will be a better place to live if you do. Invest $3 in an air freshener to leave by your floor’s garbage chute, for example. Extend basic kindnesses to your neighbours. Greet them in the hallways, offer to help them out if they’re struggling with groceries, give them a heads up if you’re doing renovations. Little gestures like this go a long way.