Category: Finance

2018 July The Tax Act of 2017 By A.J. Sidransky

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…

2017 October Appropriate Use of Common Funds By A.J. Sidransky

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…

2017 July Financial Oversight By A.J. Sidransky

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.…

2017 July Funding Capital Projects By Lisa Iannucci

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…

2017 July What Boards Need to Know About Finances By Georgia Kral

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 …

2017 July Inadequate Reserves By Liz Lent

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…

2017 April The Lending Landscape By A.J. Sidransky

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…

2017 January Tax Time By A.J. Sidransky

If you live in the United States and watch television, you are undoubtedly aware that every January, right before the New Year, the holiday season advertising tapers off and the tax season advertising begins. From around December 30th to Ap…

2016 July Budgeting 101 By The New Jersey Cooperator staff

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…

2016 July Spotting Financial Irregularities By Greg Olear

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…