Category: Finance

Finance
2017 July Hiring—and Paying—Contractors

Co-op, condo and HOA living represents a unique social arrangement; it’s a paid-for membership club and a home at the same time. Many people enter into this arrangement without a complete understanding of the responsibilities of membership.…

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Finance
2017 July What Boards Should Know About Finances

Money, money, money. The world runs on it. And your building’s well-being depends on it. The issue is not just having funds, but managing them. Handling the finances for an entire building or association is a major responsibility, and boar…

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Finance
2017 July Inadequate Reserves

There are few feelings worse than encountering an unexpected expense and finding the piggy bank empty. That is why reserve funds and reserve studies are such important elements in the financial well-being of co-ops, condos and homeowners as…

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Finance
2017 April Co-op and Condo Financing

Today, some eight years after the economic devastation of the Great Recession first began to gather steam, financing for co-op and condominium buildings and individual unit purchases is again widely available. The market is overall quite he…

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Finance
2016 July Managing Employees

These days, pretty much everyone has a smart phone, which means they have a computer in their hands all day, every day. That makes it difficult to take true vacation days, to 'unplug' on the weekend, and to “leave work at work.” Our work li…

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Finance
2016 July Spotting Financial Irregularities

While it's pretty much impossible for a condo board, HOA or an employee thereof to commit fraud on the scale of a Bernie Madoff or any one of the greed-driven shysters who have made headlines in recent years, building boards and managers ce…

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Finance
2016 July Show Me the Money

The first of the month rolls around and it’s time to pay the monthly dues that keep the building operational. Repairs might need to be made, maintenance done, bills paid to keep all the common elements running and those dues make it all hap…

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Finance
2016 July Financial Record-Keeping

Whether your community is a condo, HOA, or co-op, proper record-keeping is the difference between a healthy property and one headed toward peril. And while meeting minutes and election results require well-organized documentation, records s…

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Finance
2015 October Planning for the Future

The experience of condo and co-op board members and trustees can often feel like a juggling act. There are varied interests in the community that want different things. There's legal counsel, financial advisers, and managers who try to off…

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Finance
2015 July Amenities Need or Burden?

The amenities found at New England’s condominium communities can run the gamut from glamorous to the merely mundane. Some of the larger communities are virtual resorts with enough real estate—and revenue—to offer riding stables, golf cours…

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