Sometimes, just getting two people to agree on what to have for dinner or what movie to see on a Saturday night can seem like an overwhelming task. Now imagine trying to get five, seven or nine people to make million-dollar decisions t…
Co-op and condo board members are usually volunteers who give of their time and expertise to help make sure their building or HOA is well-run and their investment protected. In a perfect world, new board members are architecture graduat…
For any condominium or community association, there are certain types of insurance that HOAs cannot live without. Generally those include: property, liability, umbrella, D&O (with employment practices liability (EPL) insurance embedded …
Mistakes happen. It’s a simple fact of life and a simple fact of doing business. That’s why issues of insurance are so important for condominium managers and boards to take seriously. While it is easy enough to keep up to date on one’s o…
Mold—it’s an ugly four-letter word in more ways than one. Nobody wants to think about the fact that this fungus can be found anywhere where water leaks or drainage problems are present. Mold can cause serious damage to a co-op or condom…
Since 2000, New Jersey has experienced five federally declared disasters due to flooding. Hurricane Ivan crashed ashore in July 2004 and quickly became a category five hurricane. New Jersey residents were hit with intense rains, causin…
When one thinks of Princeton, New Jersey, the first thing that comes to mind is the Ivy League university that put the town on the map—and with good reason. Perennially ranked in the top handful of colleges in the country and with an en…
Many directors serving on the boards of co-op corporations and condominium communities assume that once they have secured the appropriate coverage for their properties, their problems are largely over. Unfortunately, problems in the in…
No matter what the profession or position, it’s difficult to work where you live. For condo and HOA board members, that can certainly be the case. These volunteers must make decisions that impact not only the bottom line, but their frie…
Though often responsible for millions of dollars in property and charged with the oversight of complex building functions, few co-op/condo board members are real estate professionals. Board members are resident volunteers who come from …