As homeowner insurance costs continue to escalate in the coastal regions of New England, it has become harder to successfully wade through the morass of deductibles and policy lingo on storm insurance coverage. But with a little knowledg…
Afire sweeps through a row of condominiums, some of them partially-built units that were caught in the financial downturn. What happens when empty condo units, finished or otherwise, suffer damage? Who pays to rebuild them? Ac…
Ah, summertime! It’s a great time for property managers to kick back and relax! Except for that out-of-control grill fire on the deck of unit 31 that nearly jumped to adjacent units. And that pesky 13-year-old who broke his finger durin…
In today's harsh economic times, maintaining a healthy reserve fund is more important than ever. A community association’s reserve fund can be used to cover any number of emergency expenses from sudden repairs to legal costs. In additio…
When these decisions have to be made, boards must consider the best way to include residents in their thought process. And when the board of trustees comes to the conclusion that fees must be raised, hopefully they’ll announce it in a m…
Bad economic news is pretty much inescapable these days. You can’t turn on the TV without hearing about another round of layoffs or shaky consumer confidence. The stock market is unstable, retirement funds are shedding value, the housin…
Even in the best of economic times, preparing a condominium's annual budget is a tiresome task, fraught with uncertainty, estimations and shifting numbers. Now, factor in one of the most challenging economic downturns in a century with …
Q Recently I left my job and have decided to start my own business. Am I permitted to operate a business out of my condominium unit? –Enterprising Entrepreneur A “Like many questions involving condominiums, the answer…
Who Passes the Annual Budget? Q Does our condominium board of directors need to have our next annual budget passed by the condominium owners or can they pass it themselves? –Following Protocol A “In most s…
Fresh from hoisting up the banking and automobile sectors, a newly muscular Uncle Sam is now turning his attention to putting the skids on the real estate meltdown. The Obama Administration earlier this year rolled out two major housin…