2010 July
Focus on... Community Budgets & Finance

Finance Overlooked Savings
2010 July Overlooked Savings

 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 …

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Finance Squeeze Play
2010 July Squeeze Play

 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.  …

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Finance Understanding Your Condo's Finances
2010 July Understanding Your Condo's Finances

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…

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Finance A Rash of Thefts
2010 July A Rash of Thefts

 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…

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Finance "Other-miniums"
2010 July "Other-miniums"

 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…

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Q&A: What if Secret Ballots Aren't Secret?
2010 July Q&A: What if Secret Ballots Aren't Secret?

Q Our Massachusetts condo complex is composed of three phases with a separate board for each phase. In two of the phases, the board is elected at the annual meeting with a secret ballot. In my phase, the last of the three, unit owners ar…

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