Imagine this scenario: you’re trying to purchase a co-op apartment, but also in the midst of a divorce. The board, concerned you may have to shoulder additional child support and alimony payments, fear that you might be unable to meet yo…
Boston, Massachusetts may seem worlds away from the serene Garden State, but the story of one embattled condo building there represents a dire cautionary tale for boards and managers everywhere. A couple of years ago, the residents …
New York co-op boards are notorious for scrutinizing prospective buyers with the intensity of federal investigators. The application and interview process can be lengthy and exhausting for someone looking to move into a cooperative. As s…
For the uninitiated, tax filing for something as complicated as a community association can seem a daunting task. Fortunately, there are multiple options for homeowners associations, and with a little background knowledge, you can take t…
Monthly charges, including common charges, emergency repairs, special assessments, maintenance fees, dues and so forth, are a big part of owning a condominium in New Jersey. When an owner is late, or misses monthly payments entirely…
For the first time since Fiscal Year (FY) 2001, New Jersey's state budget does not rely on tax or fee increases. Gov. Jon S. Corzine signed a $33.47 billion state budget for FY 2008 that is committed to no new taxes, substantial tax reli…
Cons and hustles are as old as civilization itself. For as long as there have been goods and currency to collect and divide, there have been unscrupulous individuals who are ready to relieve the unwary consumer of their holdings. Banking to…
Almost everyone, whether they're financially successful or not, knows what it's like to feel the pinch of financial insecurity at one time or another—those moments when an unexpected expense looms on the horizon like a storm, or the real…
Money matters are important to any homeowner, putting much pressure on those board members in charge of creating a budget—no easy task. Within a budget, condo boards and associations must try to predict expenses for the upcoming year, in…
Instances of out-and-out fraud are rare in the world of condos and homeowners associations, but that doesn't mean you shouldn't look out for them and know how to spot signs of trouble. Consider this—most board members are volunteers…