Self-managed communities large and small can save a considerable amount of money by bypassing third-party management and handling their day-to-day business in-house. This means the board must take on the tasks and responsibilities that comm…
A multifamily building or association is like a small city in many ways; there’s always something happening beneath the surface, from budgets being drafted to maintenance being scheduled, to vendor contracts being reviewed. To the residents…
Serving on one’s condo, co-op or HOA board is voluntary, and board members do not serve indefinitely—or at least, they shouldn’t. Multifamily shared interest communities are required to hold regular elections, the result of which is some bo…
Among the many factors necessary for multifamily residential buildings to achieve financial stability, proper budget planning, compliance, and trust among shareholders, effective fee management is one of the most important. Understanding th…
The right property management team can make or break a building. While basic day-to-day maintenance and financial oversight often take priority when managing a multifamily property, comprehensive property management also includes building s…
Just as a ship cannot steer without its captain, a board cannot function effectively without its president. As the administrative head, this volunteer position is vital for ensuring the smooth operation of a condo, co-op, or HOA board. The …
Having a commercial space on the ground floor of your co-op building can be both a blessing and a curse. On the blessing side, the income generated by such a space can provide much-needed income for a residential cooperative, reducing sha…
In multifamily residential communities, where neighbors share common space, amenities, and maintenance—if not actual walls—establishing and maintaining boundaries can be a bit tricky. Physical boundaries are often breached by things like …
Talk to anyone familiar with common-interest community governance anywhere in the country, and they will tell you the same thing: apathy is rampant among residents of co-ops, condos, and HOAs. Not only is it difficult to get owners and shar…
When buying into a co-op, condo, or HOA, you’re not merely buying a home—you’re buying into a community. These communities are governed by policies and procedures that typically include prospective member requisites, as well as the methods …