Page 10 - New England Condominium March 2021

10 NEW ENGLAND CONDOMINIUM -MARCH 2021 NEWENGLANDCONDO.COM Flynn Law Group 185 Devonshire St., Suite 401 • Boston, MA 02110 617-988-0633 “Quality Representation at Reasonable Rates - $150/Hr.” Contact Attorney Frank Flynn Frank@flynnlaw-ne.com www.flynnlaw-ne.com ATTORNEYS INDOOR AIR QUALITY • VENTILATION • DUCT CLEANING AIR DUCT & DRYER VENT CLEANING 800-893-1117 www.continentalcleanair.com Property Managers • Multi Units • Associations • Condos Continental clean:Layout 1 12/22/09 11 See Our Display Ad on Page 10 Condominium and Real Estate Law Phone: (781) 817-4900 Direct: (781) 817-4603 Fax: (781) 817-4910 We may be dressed up, but we aren’t afraid to get our hands dirty. www.lawmtm.com Disclaimer: The answers provided in this Q&A column are of a general nature and cannot substitute for professional advice regarding your specific circumstances. Always seek the advice of competent legal counsel or other qualified profes- sionals with any questions you may have regard- ing technical or legal issues. Merrill & McGeary 100 State Street, Suite 200 Boston, MA 02109 617-523-1760 • Fax 617-523-4893 Contact: Mike Merrill, Esq. mmerrill@merrillmcgeary.com ACCOUNTANTS Please submit Pulse items to Pat Gale at patgale@yrinc.com Accounting • Auditing • Taxes • Consulting Worcester 67 Millbrook Street 508-797-5200 Grafton 80 Worcester Street 508-839-0020 Holden 795 Main Street 508-829-5544 M Love Associates, & LLC Certified Public Accountants Serving Condominium Associations mlove 2.25 x 2.5 condo association color 9.19.2017.indd 1 9/19/17 12:59 PM See Our Display Ad on Page 5 185 Devonshire Street, Suite 401, Boston, MA 02110 Quality Representation at Reasonable Rates. (617) 988-0633 Contact Attorney Frank Flynn: FRANK@FLYNNLAW-NE.COM Flynn_E4C.qxp:Layout 1 12/8/14 2:30 PM Page 1 DAL CPA David A. Levy, CPA, P.C. Certified Public Accountants Areas of expertise in Condominiums ■ Cooperatives ■ Timeshares ALL COMMON INTEREST DEVELOPMENTS Call our office for a complimentary review of your financial needs 617-566-3645 or 866-842-0108 20 Freeman Place, Needham, MA 02492 DavidALevy_E4C_NEC_Sept15:Layout 1 10/7/2015 3:54 PM Page 1 SERVICING THE EAST COAST FOR OVER 30 YEARS Member AICPA, CAI-NE www.DALCPAPC.net dlevy@dalcpapc.net “As to potential legal action, it is best to seek a resolution without litigation. Standard management company contracts contain indemnification language in favor of the company. Standard governing docu- ment provisions contain indemnification language in favor of board members. “In other words, litigation would likely deplete the financial resources of the asso- ciation and its owners and would normally not contain the possibility of liability for a management company or board members. Further, violations of governing docu- ments or even the condominium law are not subject to specific penalties under the law. Rather, the likely outcome would be a court order instructing any parties found to be in violation to correct the violation. This is the type of result that the parties should be able to reach themselves after an open discussion of the issues.” n Q&A continued from page 5 cost-effectiveness. In this course, partici- pants learn about building design and con- struction, project delivery, construction materials, and building systems, including HVAC, roofing, and plumbing systems, as well as ceilings, flooring, and interior walls. To register, contact Courtney McHugh, cmchugh@gbreb.com Industry News Survey Predicts Boom in New Condos This Year According to the Community Asso- ciations Institute (CAI)’s Foundation for Community Association Research (FCAR), 2021 will see an additional 4,500 new con- dominiums and homeowners associations added to U.S. housing stock—making up nearly 25% of the country’s total, and home to more than 73 million Americans. That’s a predicted 1.3% increase in new communi- ties this year—a growth that has been con- sistent since 1970, according to the study. “Following an unprecedented 2020, with a global pandemic shutting down the world and resulting severe economic reces- sion, 2021 has the chance of being a posi- tive year for community associations,” CAI notes in a press release. The financial impact of COVID-19, although still uncertain, will be felt long after the pandemic ends. According to the release, “To better understand how COVID-19 is impacting community asso- ciations financially, CAI has surveyed our members monthly since March 2020 to es- tablish a benchmark for comparing assess- ment delinquencies between communities, help CAI quantify the impact, and advo- cate for public policy support accordingly. The results indicate there has been a slight impact of the pandemic on community as- sociations.” According to mortgage data firm Black Knight, as of December 2020, 2.15 million mortgages were more than 90 days past due. The U.S. Census Bureau’s Household Pulse Survey data collected from Decem- ber 9–21 show that 15% of survey respon- dents with a mortgage had no confidence (6%) or only slight confidence (9%) in their household’s ability to make mortgage pay- ments due in January 2021. In its press release, CAI said it will “con- tinue to collect data related to community association assessment delinquencies and advocate for public policy that supports the financial stability of community associa- tions.” Energy & Environment The Smith Receives LEED Certification The Smith, located at 89 East Dedham St. in Boston, has been named recipient of both LEED Silver and Fitwel 2-star rating certifications, according to an article in the New England Real Estate Journal. The Smith is composed of 300 rental apartments designed to accommodate sin- gles, couples, and families including studio, one-, two-, and three-bedroom apartments ranging from 484 to 1,328 square feet. It is the first multifamily project to achieve Multi-Family Residential v2.1 certification, according to the news article. “During a year when issues like work- from-home environments, individual health, outdoor activities, and eco-friendly measures are foremost in our minds, we are honored to be among the buildings that offer safe, healthy, and luxurious amenities for our residents,” said Sam Reiche, vice president and partner at Leggat McCall Properties, owner of the property. The Smith’s LEED Silver designation was based on a number of sustainability achieve- ments, including a 35% offset of fossil fuel consumption through renewable energy certificates, such as a mixture of wind, solar, biomass, and geothermal renewable power; 40% potable water use reduction through low flow plumbing fixtures; bicycle facilities and EV fueling stations on site to promote alternative/carbon free transportation; and having recycled nearly 90% of construction waste. n PULSE continued from page 4 DUCT/DRYER VENT CLEANING