All roads lead to Sturbridge, Massachusetts—or so it seems. A thriving community with colonial roots, Sturbridge stands at the crossroads of New England. U.S. Route 20 runs through the center of town, and the junction of Inters…
Most of the time, a condo association or co-op building and its management company enjoy a mutually beneficial partnership—the management company and the individual agents try their best to serve their clients, and their client communiti…
It often arises suddenly. And when the telltale signs do appear, the problem has likely been years in the making. “It can come up any number of different ways,” says Charlie Perkins, senior partner of the Westford, Massachusetts-based la…
The day-to-day costs of running a multifamily residential building are significant. There’s the fuel oil, electric, cleaning supplies, equipment maintenance and service calls for repair and upkeep. Then there are the insurance costs, la…
Massive flooding. Widespread insect infestations. Devastating tornadoes. It’s a good thing those things don’t happen in New England. Condominium trustees and homeowners who thought New England was immune to such catastr…
lthough they are supposed to have a so-called reserve account to cover anticipated capital expenses—roof replacements, exterior maintenance, elevator upkeep, and the like—many condominiums, especially in the last few years of economic …
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. …