As cases of the new coronavirus increase here in the US, the crisis has led to a number of questions from condominium boards to the effect of: What should we do to protect the condominium and its members? What is our responsibility for the…
In life two things are assured: death and taxes. In condo and HOA life, there’s a third constant: annual increases to maintenance or common charges – but many shareholders and owners question why this is the case. In times of relative sta…
Saving for a rainy day is a lesson we all learn as children. As individuals, we put away a little something for that ‘just-in-case’ moment; similarly, co-op corporations and condominium associations must keep reserve accounts, not just for…
Insurance is cyclical; there are hard markets and soft markets, and insurance companies typically make money in two ways: underwriting profit, and investment income. When the market is soft, insurance companies are looking for market share,…
The importance of saving for a rainy day is a lesson we all learn as children. Just like we as individuals should put away a little something for that ‘just-in-case’ moment, co-op corporations and condominium associations must also keep res…
With few exceptions, most multifamily buildings or communities have at least one or two staff members (and sometimes many more) who maintain the safety, security, cleanliness, mechanical operations, and day-to-day functions that residents a…
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. There are web- and device-based apps for everyth…
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 o…
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. The re…
Economists often say that markets love consistency. So do condos and HOAs – and they share that preference for stability with another important group: insurance companies. Residential communities seek to keep their costs stable, and insuran…