Page 3 - New England Condominium July 2019
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COMING UP  Publisher  Yale Robbins  Executive Vice President  Henry Robbins  Associate Publisher  Joanna DiPaola  Advertising Directors  Alyce M. Hill  Michele Mulvena  Senior Editor  Hannah Fons  Associate Editors  David Chiu  Pat Gale  Staff Writers  Michael Odenthal  Alan J. Sidransky  Art Director  Shirly Korchak  Production Manager  Aetna Dowst  Traffi c Coordinator  Victor Marcos  Copyright 2019 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 offi 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:   TABLE OF CONTENTS  THIS MONTH’S FOCUS: BUDGET & FINANCE  THE CONDO, HOA & CO-OP RESOURCE  CONDOMINIUM  NEW ENGLAND  NEWENGLANDCONDO.COM  NEW ENGLAND CONDOMINIUM   -JULY 2019     3  4    Pulse/Calendar   5    Legal Q&A  12    EXPo ReCaP  16    Board   OPerations:   EntitleMent to   InForMation  18   MarKetPlaCe  DEPARTMENTS:  Manager, or Landlord?    By Mike Odenthal  Many co-op shareholders and condo unit owners arrive in their respective communities   aft er a history of living as renters. Oft en they carry with them certain ingrained assumptions   and expectations from having lived under a landlord. Th  ese assumptions can cause friction   – because while the board of a co-op association and/or its management company may   take on some responsibilities similar to those of a landlord, these are very diff erent entities   operating under distinct mandates.  8 MaintenanCe Charge InCreases   By Mike Odenthal  Th  ere  are few  things upon which  most people agree, but a general dislike for  paying   more today for something that cost less yesterday is pretty universal. Th  is goes for taxes,   consumer goods, healthcare, and of course for monthly maintenance or carrying charges   to a co-op, condo or HOA. But like it or not, the reality is that major building systems wear   down, natural disasters happen, and the environment around a property changes over   time. All of these will eventually mean an increase in what each individual shareholder   or owner must pay in order to keep his or her community solvent and well-maintained.    FaCing FinanCial MisManageMent  By Mike Odenthal  Th  e board of a building or community association has a fi duciary duty to uphold its   community’s governing documents, act in good faith, and advance the interests of the   community at large. Occasionally, boards fail to carry out this duty – sometimes through   mismanagement and poor decision making, and sometimes through willful disregard for   the association’s bylaws. In the latter situation, there’s usually one uniting motivator: money.   10  Board OPerations: ConduCting Better Meetings  By Mike Odenthal  Residents in co-op, condo and HOA communities are frequently quite busy. Boards consist   of elected volunteers who nearly always have other jobs and lives. So while a professional   management company can relieve much of the day-to-day operational stress of running a   multifamily community, no decision can be made without those board members coming   together to represent the interests of their neighbors.   14  6  August   Insurance/Board Training  September   Energy & the Environment  October   Board Operations   November   Building Maintenance  December   Safety & Security  January  Management  February   Board Relationships

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