Page 3 - New England Condominium January 2020

NEWENGLANDCONDO.COM
NEW ENGLAND CONDOMINIUM
-JANUARY 2020
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
Victor Marcos
Traffic Coordinator
Alan J. Sidransky
Staff Writer
Alyce Hill
Director of Sales
Copyright 2020 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 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, 12th Floor, New York, NY 10016. FREE Subscriptions for Board Members, Trustees,
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TABLE OF CONTENTS
T C
he hallenges of
M
anaging a isTresseD roPerTy
D
P
. . . 1
Despite the best intentions of board members, residents, and even managers, co-op and
condominium properties don’t always run like well-tuned machines. Sometimes they hit a bump in
the road...and sometimes they break down completely.
T e
he voluTion of roPerTy
P
M
anageMenT
. . . 1
Like so many other sectors of the economy, residential real estate management has changed and
evolved since the turn of the millennium—and like those other sectors, much of that evolution is
directly linked to the development and adoption of technology.
i
nTroDuCing ew eCuriTy eCh in our uilDing
n s
T
y
B
. . . . 1
In today’s world of high-tech property management and building security, there are more options than
ever for managers and boards to choose from to keep their communities on the cutting edge.
s
Taff afeTy
s
101. . . 6
With few exceptions, most multifamily buildings or communities have at least one or two staff mem-
bers (and sometimes many more) who maintain the safety, security, cleanliness, mechanical
operations, and day-to-day functions that residents and visitors rely on.
u
nDerfunDeD eserves
r
. . . . 8
The importance of saving for a rainy day is a lesson we all learn as children. Just like we as individu-
als should put away a little something for that ‘just-in-case’ moment, co-op corporations and
condominium associations must also keep reserve accounts for unexpected as well as planned replace-
ments and repairs.
B
iDDing asiCs
B
. . . . 10
The boards that direct co-ops, condominiums, and HOAs across the country are made up of volunteers
who donate their time to help govern their communities. Among their duties is selecting
vendors to provide goods or services for those communities—everything from lawn care to roof repair;
surveillance to extermination.
i
nDusTry ulse
P
. . . . . . . . . . . . . . . . . . . . 4
Q
uesTions
& a
nswers
. . . . . . . . . . . . . . . . 5
M
arkeTPlaCe
. . . . . . . . . . . . . . . . . . . . . 18