As annual and quarterly budgets come up for review, associations are looking to cut additional costs anywhere and everywhere they can. But how much more “fat” can be trimmed from budgets? Surprisingly, there are a few unsung cost saving …
Tighter lending requirements for Federal Housing Administration (FHA)-backed mortgages for condos have put financial and administrative pressure on condos around New England at a time when many are ill prepared for any new challenges. …
Management of a condominium community is much like democratic government in a small town or village. The budget process is remarkably similar, whether it’s fees or taxes being collected, and, as in local government, financial management…
Given recent headlines, condo associations could be forgiven for thinking they need to put an armed guard and razor wire around the petty cash box. A wave of fraud appears to be hitting condominiums from New England to Florida and beyo…
It’s not your Daddy’s condominium any more. Since the 1960s and ‘70s, when condominium home ownership became not only available but a viable alternative to single-family housing in New England, the market has evolved with man…
Q Our Massachusetts condo complex is composed of three phases with a separate board for each phase. In two of the phases, the board is elected at the annual meeting with a secret ballot. In my phase, the last of the three, unit owners ar…