As the recent recession has lingered on, co-ops and condo associations across the region—from luxurious waterfront high-rises to sprawling suburban developments—have found more of their residents in arrears with their monthly fees. Some …
The day-to-day costs of running a multifamily residential building are significant. There’s the fuel oil, electric, cleaning supplies, equipment maintenance and service calls for repair and upkeep. Then there are the insurance costs, la…
Tsunamis, earthquakes, tornadoes—these are just a few of the devastating disasters that have made headlines already in 2011 and created emergency situations that many never thought possible. As the past year’s calamitous snows…
Perhaps one of the most difficult aspects of the recent recession was the sudden evaporation of credit from major banks and lending institutions. The logic behind it was understandable: too much easy credit had led, in part, to the col…
Q A bunch of shareholders have been trying to get a copy of the shareholders list for a number of different reasons but have been denied by the Board of Directors every time. I have looked online and have called numerous state agencies…
Q My parents were the owners of a cooperative apartment. My mother and father were both listed on the membership certificate. However, my parents divorced in 1993 but the membership certificate remained in both names. My mother died ear…
Q Our condo board is made up of seven owners. Do you think that it is legal to require board members to sign a confidentiality agreement form even though it is not stipulated in the bylaws? —Inquisitive in Iselin A “…
Q Our condo association's board consists of five members. Three seats are up for election in the fall. What are our options if we have no other condo owners willing to put their names on the ballot? —Concerned Condo Owner …
Consider the following all-too-common scenario: your condominium association has one delinquent unit owner who owes three months of common charges totaling $915.00 before late fees. Statements have been sent without response, and telep…
Choosing a competent contractor to complete a planned or unplanned project is more difficult now than ever before. In today's economic climate, often inexperienced contractors might be eager to submit proposals for projects. W…