Category: Finance

Finance
2021 July Accrual vs. Cash

The successful financial management of a condo, co-op, or homeowners association relies upon accurate, timely, and consistent financial statements. These statements represent the financial position and results of operations of the associati…

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Finance
2021 July How Has COVID Affected the Multifamily Market?

One year-plus into the largest public health crisis in a century, New England Condominium spoke to real estate professionals across the geographic regions we cover to learn the effects that the COVID-19 pandemic has had on their specific ar…

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Finance
2021 July Where Does It Go?

The vast majority of co-op and condominium boards are well intentioned and work diligently with their management and accountants to draft and monitor their annual budgets—and recalibrate them as necessary. Despite their best efforts to keep…

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Finance
2020 September Tapping Reserves in a Time of Financial Crisis

It’s a question we’re asked all the time: “Can we use reserves to cover an operating fund shortfall?” Under normal circumstances, our standard response would be an emphatic “No!”—because reserves are for major repair and replacement project…

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Finance
2020 July The Price is…Right?

Even before the COVID-19 crisis hit, the question of where real estate values were going was the elephant lurking in the corner of the room. Some submarkets (like Boston, for example) were strong—and getting stronger. Others (like New York …

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Finance
2020 July Budgeting in a Changed Landscape

Each year, boards are tasked with figuring out the costs associated with all aspects of their community’s operations, including any capital repairs or improvements they plan to undertake in the coming fiscal year, and then making sure the r…

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Finance
2020 July Coping with Cash Flow Problems

Among the many realities made visible (or more visible) by the COVID-19 crisis is the domino theory: when one falls, the others follow. Conceived (and largely disproven) as a political metaphor, the notion has proven more useful when applie…

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Finance
Tapping Reserves in a Time of Financial Crisis

It’s a question we’re asked all the time: "Can we use reserves to cover an operating fund shortfall?" Under normal circumstances, our standard response would be an emphatic “No!” -- because reserves are for major repair and replacement proj…

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Finance
2020 April Condo Associations Face New Collection Challenges

In an effort to assist residents facing severe hardship, the Massachusetts Attorney General issued new regulations on March 27, 2020 restricting consumer debt collections. The coronavirus pandemic and resultant economic fallout are bad enou…

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