2012 October
Focus on... Association Operations

Board Operations Getting Ahead of the Curve
2012 October Getting Ahead of the Curve

Few volunteer jobs are as big and involving as serving as a board member for a co-op or condo. In some cases, it means helping to run a multimillion-dollar corporation in one’s spare time. It means managing the place one lives—along wit…

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Board Operations When Owners Don't Pay
2012 October When Owners Don't Pay

Nothing remained in the New Jersey townhome after the owner, exasperated and struggling, financially picked up and left. And took everything with him. “Not only did he walk away, but he gutted his house,” says Joseph J. Balzamo, a presid…

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Board Operations The Benefits of Being on the Board
2012 October The Benefits of Being on the Board

 Many co-op and condo owners want to get involved in their community but they  soon find out that being on the board is no picnic. Soon neighbors are  pestering them asking for feuds to be settled, decisions that affect all  resident’s liv…

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Board Operations Fiduciary Duty
2012 October Fiduciary Duty

 Being elected to the board of directors of a condominium association or  cooperative comes with a great deal of power, and with that power also comes a  great deal of responsibility. Whether they serve a condominium association or  cooper…

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Board Operations Getting Out the Vote
2012 October Getting Out the Vote

 When it comes to running board elections in a condo or co-op community, the  biggest concern among those involved is making sure the elections are fair and  balanced and nobody has a reason to cry foul. Elections can be heated as it is,  …

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Board Operations The New Jersey Exchange
2012 October The New Jersey Exchange

 Anyone who lives in a city—or across a river from one—that is a popular tourist destination has likely played host to a procession of  family, friends, friends-of-family, and other assorted houseguests over the  years. To address this (an…

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Finance What's in Your Wallet?
2012 October What's in Your Wallet?

 Unless it's a thoughtful gift or a party in their honor, nobody likes surprises.  That's especially true when it comes to sudden, serious, or non-negotiable  repairs to a condo building or HOA. A community must have enough money saved to …

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Finance Flush with Cash
2012 October Flush with Cash

 In December 2008, the National Bureau of Economic Research announced that the  United States was in a recession that had started back in December 2007. The  official announcement was old news for most Americans.    Most financially…

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Organizations Keeping It Cool
2012 October Keeping It Cool

 Heating and cooling systems within condominium developments are called upon to  provide safe, consistent energy to residents. The people who bring you heat,  air cooling and refrigeration know that, and want to find what works—and what do…

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Q&A Q&A: Can Management Company Serve on the Board?
2012 October Q&A: Can Management Company Serve on the Board?

Q My question is about being elected to the board of a condo association in New Jersey. We have a building management company hired by our board. Can the management company executive be elected to the board? Does the executive have any …

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Q&A Q&A: Money for Repairs
2012 October Q&A: Money for Repairs

Q I live in a 51-unit condo complex in Essex County, New Jersey. The association  is attempting to get a loan for needed repairs of at least $200,000, however  three attempts were denied due to a delinquency in condo dues totaling $35,000…

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