Page 3 - New England Condominium March 2021

NEWENGLANDCONDO.COM NEW ENGLAND CONDOMINIUM -MARCH 2021 3 Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Senior Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Alan J. Sidransky Staff Writer Alyce Hill Director of Sales Copyright 2021 by New England Condominium Magazine LLC, dba Community Association Publishing.All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without prior written permission. New England Condominium is published monthly in New York, New York by New England Condominium Magazine LLC, dba Community Association Publishing, 205 Lexington Ave., 12th Floor, New York, NY 10016. 508-753-4630. ISSN 1550-946X. Periodical postage paid at New York, New York and additional mailing o ces. Subscriptions are available free by request to condominium and homeowner associations. POSTMASTER: Please send address changes to New England Condominium Magazine, 205 Lexington Avenue, 12th Floor, New York, NY 10016. FREE Subscriptions for Board Members, Trustees, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: newenglandcondo.com/subscribe TABLE OF CONTENTS E B S M ........ The board of any residential community has two prime directives: to maintain the financial health of the association, and to maintain the structural health of the property. Both require a broad array of knowledge — much of which the average board member may not necessarily possess. For that reason, most board members rely heavily on experts for guidance and counsel in both areas — but in order to think critically about the needs of their building(s) and act prudently on behalf of their constituents, boards should also have some baseline knowledge about how their property is constructed, and the terms used to discuss it. In this piece, we’ll explore some of the main exterior elements common to many associations. W D W .... Exterior maintenance and repair are some of the most extensive — and expensive — work that a condo, HOA, or co-op will undertake; they’re also unavoidable. So when planning such a project, two important factors should be considered: The first is the scope of the work, and the second is who should do it. C - P P P ... . You may have heard that thanks to cooperative corporations being included in the new federal Stimulus Bill passed at the end of December, residential co-ops can now obtain loans under the Fed’s Paycheck Protection Program (PPP). While this is fantastic news for communities struggling with the ongoing financial impacts of the pandemic, it also raises lots of questions about applications, eligibility, and the rules around how funds are to be disbursed and allocated. A Property Management Company You Can Trust At J. Butler Property Management, LLC., we measure our success in terms of client satisfaction and take a long-term view of every relationship. www.jbutlerpropertymgmt.com 978.694.9004 James R. Butler IV Executive Manager • Family owned and managed Massachusetts based property management company • Blends management expertise with open communication between the board, unit owners and managing agent, making for a healthier property • Superior cost cutting strategies and vendor pricing • Community website, work order system, online payments • An in-house maintenance team that is able to reduce costs and offer an unparalleled level of service P ................ Q 8.586