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…
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…
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…
Questions to our firm about how homeowner and condominium associations should respond to the coronavirus (COVID-19) epidemic have come in waves. When news of the virus broke, we were asked by HOAs and condos how to keep homeowners safe. (S…
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…
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…
The board of a building or community association has a fiduciary duty to uphold its community’s governing documents, act in good faith, and advance the interests of the community at large. Occasionally, boards fail to carry out this duty – …
There are few things upon which most people agree, but a general dislike for paying more today for something that cost less yesterday is pretty universal. This goes for taxes, consumer goods, healthcare, and of course for monthly maintenanc…
Many co-op shareholders and condo unit owners arrive in their respective communities after a history of living as renters. Often they carry with them certain ingrained assumptions and expectations from having lived under a landlord. These a…