For most people, their home represents their single biggest investment. And in a multifamily building or homeowners association, both individual units and the entirety of the building or development are part of that investment. In light of …
It’s been a dramatic few years for the condo and co-op market, swinging from red-hot to rather difficult, with most regions nationwide feeling at least some of the effects. Some of the factors underlying the shifts are rooted in pre-pandemi…
On March 2, the US Treasury Department announced via press release that not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing Corporate Transparency Act (C…
Q. Given the recent disasters on both the East and West Coasts, from flooding to fires, it seems obvious that property insurance is important. But it’s also getting very expensive. Owners who have mortgages are required by their banks to …
One of the certainties of living in a condo, co-op, or HOA is that despite all having an equal stake in the financial and administrative success of the building or association, only a small percentage of residents choose to take an active r…
The term ‘diversity’ encompasses an expansive range of demographics within a population, from ethnicity, age, gender and orientation, ability, religion, and socioeconomic status to culture, language, and personal lived experience. These fac…
In multifamily communities, transparent and open communication helps ensure smooth operations and leads to greater resident satisfaction. When it comes to property management, both traditional and more tech-savvy communication approaches,…
Q. I live in a condo complex in Rhode Island. I only receive a financial statement once a year. I would like a monthly expense sheet and income tax return sent to me. The management company and the treasurer have not answered me. Is there…
Q. I was a member of our three-person association condo board for about one year. I resigned after I realized the other two people were having secret meetings and making decisions without my input, and bringing their two-to-one vote to th…
Among the many factors necessary for multifamily residential buildings to achieve financial stability, proper budget planning, compliance, and trust among shareholders, effective fee management is one of the most important. Understanding th…