2012 July
Focus on... Community Budgets & Finance

Finance
2012 July Putting It in Perspective

 Looking at the balance in an association’s reserve account, a homeowner could easily feel complacent. After all, a  quarter-million dollars is a lot of money.    Maybe—or maybe not. If the condominium comprises 200 units, is nearin…

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Finance
2012 July Pay Up!

 During the tough economic environment of the past few years, many condo owners  have faced job losses, pay decreases or just financial uncertainty.  Unfortunately, this sometimes leads to owners not paying their common charges.    …

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Finance
2012 July Understanding Your Association's Finances

 Budgets and financial reports provide a crystal-clear picture of how the  association is doing. From an investment perspective, they show how unit  owners, managers, tenants, building owners, board of trustees, etc., whether  the property…

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Board Operations
2012 July All For One

 It can be easy for seasoned, veteran board members to recall both the excitement  and challenge of being elected to the post. For many, the first weeks and  months are a daunting experience requiring a learning curve that is not always  e…

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Real Estate Trends
2012 July Amazing Amenities

 While a pool and a clubhouse used to be the hallmark of luxury condo living, the  whole concept of upscale condo amenities has exploded in recent years with the  construction of condo units tied to high-end hotels. This has added perks  r…

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Maintenance
2012 July Caulk it Up

 As summer thunderstorms buffet condo properties throughout New England,  less-than weather-tight windows, doors, and roofs may begin to make themselves  known. And though condo boards never enjoy addressing the perennial problem of  weath…

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Neighborhoods
2012 July New Bedford, Massachusetts

 When you think of New Bedford, Massachusetts, several things come immediately to  mind—commercial fisheries, factory outlet stores, textile mills, and of course,  whaling.    Located in Bristol County, 51 miles south of Boston, and…

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2012 July Q&A: Conversion Conundrum

Q Our condo community is considering converting a large community room into a gym  and kids play space, separated from each other by a child fence. Are there any  Massachusetts codes surrounding establishing gyms in residential buildings …

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2012 July Q&A: Regulating Common Elements

Q Last year the parents of several teens purchased a portable basketball standard  and asked the board permission to put it in a location where their children can  use it and the board agreed. Given the layout of our property the only pla…

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2012 July Q&A: Conflicted in Connecticut

Q Our property manager wants to buy a unit in our condo community but a lot of  owners are not happy about it. Is that a conflict of interest? Do we have any  legal power in this manner? Please advise.    —Becoming a Buyer   …

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