Page 3 - New England Condominium February 2022

NEWENGLANDCONDO.COM
NEW ENGLAND CONDOMINIUM
-FEBRUARY 2022
3
Boards, Managers, Landlords ........1
By its very nature, life in a co-op or condominium community is different from living in If you live in, work in, or provide services for a co-op, condo, or HOA, you know that
a rental unit or a private home. While that statement may seem pretty obvious, many however harmonious a building or association is in general, there is always that one
owners of co-op and condo units lack a clear understanding of what exactly those person—or perhaps more than one—who throws a wrench in the works. It could be the
differences are, and how they determine the parameters of what residents can and can’t guy who seems to take pleasure in disrespecting the doorman, or the lady who insists on
do in their units and in the common areas of their building or HOA. There’s also frequent feeding the feral cats (and by extension the neighborhood rats), or the family who lets
confusion about what physical, administrative, and maintenance elements boards and their kids play basketball inside their apartment.
management are responsible for in a community, versus what falls to individual owners.
Conflicts of Interest......1
If you live in a condo or a co-op, you most likely have heard the term fiduciary duty, usually
in reference to the responsibilities and obligations of board members and management.
But what is a fiduciary duty? In essence, it’s a legal relationship between two parties that
gives one party the right to act and make important decisions on behalf of the other.
Fiduciary responsibility is a cornerstone of both board and management service. Board
members and managers alike must put their obligation to the corporation or association
over personal gain—which means avoiding situations that could present a conflict of
interest.
Dealing With Disruptive Residents........1
Yale Robbins
Publisher
Henry Robbins
Executive Vice President
Joanna DiPaola
Associate Publisher
Hannah Fons
Managing 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 2022 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., 5th Floor, New York,
NY 10016. 508-753-4630. ISSN 1550-946X. Periodical postage paid at New York, New York and additional mailing offices. Subscriptions are available free by request to condominium and homeowner associations. POSTMASTER: Please send address changes to New England Condominium Magazine, 205 Lexington Avenue, 5th Floor, New York, NY 10016. FREE Subscriptions for Board Members, Trustees, Property Managers and Real Estate Decision
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Pulse...... 4
Q&A...... 5
Marketplace...... 10