Insurance liability is a very important issue for a condo or HOA association or a condo board. Most have built up a good relationship with their insurance agents or brokers, and many are content to leave the details to the pros. However, …
One of the unique aspects of community living, whether that community is a co-op, condo, or HOA, is the collective responsibility shareholders or association members take upon themselves when they offer to serve on their community’s board o…
For many people, insurance seems like its own mysterious realm, filled with terminologies that sound formidable and enigmatic. At the same time, people also understand the profound importance of insurance and what it can mean for the safety…
Q. Can a husband and wife serve at the same time on a condo board, or is it a conflict of interest? The husband is the president and the wife is the treasurer. There are three board members in a 13-apartment condo complex. …
Q. Is it typical for an association to hire an attorney on a contingency basis in order to start the process of attempting to collect arrears? Our management company went forward with this action without an official board vote. In one in…
Co-op, condo and HOA living represents a unique social arrangement; it’s a paid-for membership club and a home at the same time. Many people enter into this arrangement without a complete understanding of the responsibilities of membership.…
You work hard and try to put money away to be used for a rainy day —hoping of course that that ‘rainy day’ is a long-awaited trip to somewhere fabulous and tropical. Then, boom—the brakes on your car suddenly go, or one of the kids needs br…
Money, money, money. The world runs on it. And your building’s well-being depends on it. The issue is not just having funds, but managing them. Handling the purse for an entire building or HOA is a major responsibility, and boards -- even …
There are few feelings worse than encountering an unexpected expense and finding the piggy bank empty. That is why reserve funds and reserve studies are such important elements in the financial well-being of co-ops, condos and homeowners’ a…
Q. Can a previous signed proxy be used a year later? How long is a previous proxy effective? I am a condo owner. —Curious Owner A. “A proxy is a written document, in a form designated by the board…