Dear current board members and management team, As a newly seated board member I wanted to let you know that I am a little unclear as to what my role and specific responsibilities involve. Having never served on a condo board I …
With news of foreclosures raging about them and common fee delinquencies on the rise across the nation, condominium boards are taking a long, hard look at association expenses. But, professionals caution, boards should be wary about ta…
Mistakes can happen. It’s a simple fact of life and a simple fact of doing business. That’s why issues of insurance are so important for condominium managers and boards. While it is easy enough to keep up to date on one’s own insurance, …
Mold – it’s an ugly four-letter word in more ways than one. Nobody wants to think about the fact that this fungus can be found anywhere where water leaks or drainage problems are present. Mold can cause serious damage to a condominium, …
In April, Massachusetts officials estimated it would take $38 million to repair the damage to infrastructure caused by the deluge, and tens of thousands of residents across the region applied for disaster relief from the Federal Emerge…
It’s not your Daddy’s condominium any more. Since the 1960s and ‘70s, when condominium home ownership became not only available but a viable alternative to single-family housing in New England, the market has evolved with man…
Given recent headlines, condo associations could be forgiven for thinking they need to put an armed guard and razor wire around the petty cash box. A wave of fraud appears to be hitting condominiums from New England to Florida and beyo…
Management of a condominium community is much like democratic government in a small town or village. The budget process is remarkably similar, whether it’s fees or taxes being collected, and, as in local government, financial management…
Tighter lending requirements for Federal Housing Administration (FHA)-backed mortgages for condos have put financial and administrative pressure on condos around New England at a time when many are ill prepared for any new challenges. …
As annual and quarterly budgets come up for review, associations are looking to cut additional costs anywhere and everywhere they can. But how much more “fat” can be trimmed from budgets? Surprisingly, there are a few unsung cost saving …