The board of a condominium, cooperative, or homeowners’ association literally exists to serve, and to represent residents’ best interests in the day-to-day business of the association. The relationship between the owner/shareholder and the …
One of the unique things that sets co-op, condo and HOA living apart from living in a single-family home, or even a rental, is the buyer’s choice to live in a community-within-a-community. By purchasing a unit in a particular building or de…
There’s an old adage that ‘insurance is for pessimists’ – but that’s very much not the case. In the world of home ownership, and especially in shared communities, proper insurance is a critical factor in protecting not only your most import…
Insurance can seem like a mundane administrative afterthought – right up to the moment you need coverage. In a community association, just because a responsible board handles the lion’s share of maintaining the policy covering common areas …
For many people, appraisals are a mystery, from why and how they’re done to how the information gathered during the process is ultimately used. Truth is, the mystery is easily demystified. Appraisal is, for all intents and purposes, a strai…
Whether it’s a renovation, an emergency repair, or anything in-between, condos, cooperatives, and homeowners’ associations are rarely not spending money on something. And while they may have reserves on hand to pay for its latest project, m…
There is a natural inclination in business to work with those whom you know and trust. Relying on relationships that have developed over time is just a common-sense way to ensure a fair deal from a competent vendor who will perform their jo…
The Tax Cuts and Jobs Act of 2017 represents the first major restructuring of federal income taxes since 1986, and ushers in serious changes to how co-op, condo and HOA owners will benefit from home ownership. In many cases, the new law wil…
In any large city, and even in many sprawling suburban areas, parking is a big deal—it’s often hard to find, and when you do find a spot, it can be very expensive. Parking spaces not only provide urban and suburban drivers with freedom and …
One of the most difficult issues for board members and residents of co-ops, condominiums, and HOAs is that of arrears. The problem poses practical, procedural and ethical issues, and can ultimately lead to neglected maintenance, delayed pro…