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…
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…
There is no doubting the wisdom of one of America’s founding fathers, Benjamin Franklin, who wisely said, “In this world nothing can be said to be certain, except death and taxes.” While Father Time can take care of your mortality, the fed…
In this challenging economy, many condo and HOA communities are struggling to pay their bills while planning for future needs. Still, most boards are loathe to raise maintenance fees or levy special assessments on their residents until ther…
After a prolonged fight between Republican Governor Chris Christie and Democratic lawmakers, Gov. Christie signed a $33.8 billion dollar budget for New Jersey into law. Back in February, Gov. Christie proposed cuts nearly across the board …