Preparing the annual budget for a condo or HOA isn't quite like figuring out a budget for a couple, or even a large family. The board of a multifamily building or association has to consider all the angles—past, current, and future—when for…
While it's pretty much impossible for a co-op or condo board or employee to commit fraud on the scale of a Bernie Madoff or any one of the herd of shysters who have tromped through the news in recent years, building boards and managers cert…
The majority of co-op and condo residents pay their monthly maintenance fees on time and in full with no problem. The recent recession, however, changed the picture drastically for residents who found themselves laid off, under-employed, or…
The first of the month rolls around and it’s time to pay the bills that keep your building operational. Repairs might need to be made, staff salaries paid, maintenance done to keep all the common elements running, and supplies reordered. Th…
Whether your community is a co-op, condo, or HOA, proper record-keeping is the difference between a healthy property and one headed toward peril. And while meeting minutes and election results require well-organized documentation, records s…
Q. I live in a 130 unit co-op in Bergen County, and have a question regarding what may be a conflict of interest involving the separation of co-op administration and outside business concerns. Recently, several shareholders (including mys…
Q. I am a board member on our seven-member condo board. We really had a problem with a previous board member, who maintains that any rules (not bylaw changes) must be enforced by subsequent boards and can never be adjusted or changed. Whe…
Not every condominium or homeowners’ association is going to run afoul of the law—the happy truth is that litigation and legal trouble are relatively rare occurrences. However, even the most upstanding board in New Jersey must navigate a la…
Let’s imagine that your boss invites you to a group dinner to celebrate her recent promotion. At dinner, you have a tasty salad and one glass of the house red, but your colleagues all have multiple cocktails; somebody orders the surf-and-tu…
No one likes a lawsuit. Whether filing one or finding yourself on the receiving end of one, they can cause stress, anxiety and an upending of daily life. They can be expensive, take months—even years—to resolve, and often result in hurt fee…