Category: Finance

Finance Capital Reserve Funds
2019 May Capital Reserve Funds

As community members, co-op and condo owners work together to maintain the greater structure in which they live – not just their individual units. Major systems – things like boilers, roofs, and façades – are expensive to maintain and repai…

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Finance When Associations Borrow
2018 July When Associations Borrow

Whether it’s a renovation, an emergency repair, or anything in-between, condos, cooperatives, and homeowners’ associations are rarely not spending money on something. And while they may have reserves on hand to pay for its latest project, m…

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Finance The Tax Act of 2017
2018 July The Tax Act of 2017

The Tax Cuts and Jobs Act of 2017 represents the first major restructuring of federal income taxes since 1986, and ushers in serious changes to how co-op, condo and HOA owners will benefit from home ownership. In many cases, the new law wil…

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Finance Appropriate Use of Common Funds
2017 October Appropriate Use of Common Funds

Here’s a scenario:  It’s mid-December.  The board has assembled for their last meeting of the year.  The managing agent brings great news: due to several unforeseen factors, including the past year’s mild winter and savings resulting from c…

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Finance Financial Oversight
2017 July Financial Oversight

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.…

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Finance Funding Capital Projects
2017 July Funding Capital Projects

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…

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Finance What Boards Need to Know About Finances
2017 July What Boards Need to Know About Finances

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 …

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Finance Inadequate Reserves
2017 July Inadequate Reserves

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…

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Finance The Lending Landscape
2017 April The Lending Landscape

Today, some eight years after the Great Recession, financing for co-op and condominium buildings and individual unit purchases is widely available.  The market is overall quite healthy, and though there have been some systemic changes to th…

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