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 as…
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 finances for an entire building or association is a major responsibility, and boar…
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 nee…
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.…
Roll out the welcome wagons and red carpet! Cultivating a community of residents who are not only satisfied with their purchase but enthusiastic about their neighbors and general surroundings can indeed be a daunting task. For those joining…
Q. My condo has three units. We have three owners and we recently sold one unit to a new owner. He is the president and I am the treasurer. One day, he asked me to give him the checkbooks that have been in my handling, and stated that he …
Q. My husband and I own a co-op. The rule book specifically states that the second-floor apartment must have 80 percent of each room carpeted and padded. Now we just got new tenants moving in above us. When they walk around up there, they…
Q. Several of us unit owners in the building formed a committee in response to rules made by the board. We’re concerned that we could get involved in a lawsuit with the board, so we were wondering if the association’s insurance would cove…
Q. We had some gutter and minor roof repairs scheduled. The budget is tight for some other reasons and the president stated that her husband was qualified and would do the work for free. He is not licensed or insured and will be working o…