2017 July
Focus on... Budget & Finance

Finance
2017 July Inadequate Reserves

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…

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Finance
2017 July What Boards Should Know About Finances

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…

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Finance
2017 July Funding Capital Projects

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…

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Finance
2017 July Hiring – and Paying – Contractors

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.…

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Finance
2017 July Welcome Committees and New Resident Orientation

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…

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Q&A
2017 July Q&A: When a Board Prez Takes Over Treasury Duties

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 …

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Q&A
2017 July Q&A: Getting the New Neighbors to Follow the Rules

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…

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Q&A
2017 July Q&A: Are We Covered in the Event of a Lawsuit?

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…

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