Given recent headlines, condominium, cooperative and homeowner associations could be forgiven for thinking they need to put an armed guard and razor wire around the petty cash box. A wave of fraud appears to be hitting properties from …
Management of a condominium community is much like the democratic government of a small town. The budget process is remarkably similar, whether it’s fees or taxes being collected, and, as in local government, financial management is a t…
Tighter lending requirements for Federal Housing Administration (FHA)-backed condo mortgages have put financial and administrative pressure on HOAs all over the country at a time when many are ill prepared for any new challenges. …
As annual and quarterly budgets come up for review, HOAs across the state are looking to cut costs anywhere and everywhere they can. But how much more “fat” can be trimmed from budgets that already look stripped to the bone? Happily, th…
Q A resident, married to a shareholder, wants to run for the board. She is not on the purchase agreement. Can she legally become a member of the board if she is not a legal owner of shares in the co-op? --Not Above Board …
Q Our annual board elections are coming up in our condo. The current president has mailed proxies to owners indicating he would vote on their behalf and included information that stated "the proxy-holder will cast votes as he/she de…
Q We have a small condominium complex of 25 townhouses. One home is owned by the son of the resident. The son does not live in the home. He has given his father a note allowing him to act on his behalf, as owner of the property. Does…
Q Recently our association dues went from $166 to $275, and the main reason we were given was that the last board was "corrupt" and money wasn't being allocated correctly. Another reason we were given was that others in the complex …
It would be tough to understate the havoc caused by subterranean termites—each year, the destructive feeders cause some $5 billion to structures in the U.S. That's more damage to homes than storms, fires, and earthquakes combined. Fifty…
On May 20, Richard H. Steen became the 112th president of the New Jersey State Bar Association (NJSBA), continuing the tradition that began in June of 1899, when the NJSBA was launched in Atlantic City by 74 attorneys from around the s…