Co-op or condo ownership can mean fewer concerns about maintenance and administration for residents, but it also means living by a new set of rules and regulations. Co-op and HOA boards don’t operate as little fiefdoms unto themselves, …
The last couple of years have been tempestuous for everyone involved in the real estate industry, and the New Jersey market is certainly no exception. 2010 has been a wild year for real estate across the country, and industry experts say…
Every condo development and HOA has a board of directors in charge of governing the community’s finances, physical maintenance and other day-to-day business. The board is not just a group that runs the association, however—it is also a …
The emergence of environmental problems and the corresponding need to reduce carbon emissions, combined with tough economic conditions worldwide, is leading more multifamily residential communities to work toward conserving energy and …
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 …
Those who handle the management of any kind of residential building deal with contractors and contracts regularly—but they aren’t the only ones who should know about the process. It’s not necessarily an arcane topic—whether the project i…
These days, nearly everybody is looking for ways to save money. Like many families, some community associations are now dealing with the consequences of not having been thrifty in the past, and searching for ways to pare back their bot…
When condo-dwellers think “catastrophe,” it’s usually something dramatic, like a fire or huge storm laying waste to their HOA. There’s another, far more insidious enemy of urban and suburban condo buildings, however: H2O. Water damage m…
When it comes to running a building or community association, all board members are not created equal—at least not when it comes to administrative ability and skill. Some bring experience in construction or backgrounds in law, finance, …
Building boards and their managing agents function best when they work together as a team. Ideally, the two parties collaborate to implement policy, carry out administrative duties, and make decisions about the efficient operation of th…