2006 Oct
2006 Oct Vol. 4, No. 10
Focus on...Board Operations
New Jersey Admissions Policies
In New York, co-op boards typically reserve the right to approve or reject prospective purchasers. They ask for extensive financial background data such as tax returns and bank statements, as well as personal, professional, and prior landlord references. Generally a prospective purchaser will also have to attend an in-person interview with the board, who will then determine whether the building will allow the sale to the candidate. Interestingly, while co-ops are not allowed to discriminate against an applicant illegally, the law does not require them to give the reason for their rejection if they opt to throw out an application. Read More
The Treasurer/Accountant/Manager Relationship
If there were metaphorical rock stars in the financial management of a homeowner's association, those rock stars would be known as the treasurer, accountant and building manager. These three are the power trio of the co-op and condo finance world, taking the unabashed lead in keeping their association in the black. They might not get a lot of applause from the residents—simply because those residents might not know exactly what they do—but rest assured that they have their fans on the board. And like any good rock band, the key to longevity is a good working relationship. Read More
The Ups and Downs of Board Presidency
It's a job that eats away at your free time, often results in you being bothered in your home after-hours and on weekends, and to top it off, doesn't pay one red cent. In fact, add up expenses like phone calls and gas, and you might even lose money on the deal. Interested? Read More
Boards, Management, and Term Limits in HOAs
Most residents of a condo, co-op or HOA know at least a few of their board members—or at least know their names. Often, the same people serve on the board year after year. But what makes them want to serve? And why don't new people constantly volunteer for the board? Is there any real way of evaluating their performance as board members, and how they conduct themselves? Read More
Attracting and Keeping New Board Members
Boards of directors in co-op and condo buildings are generally elected volunteers who live in the community themselves and have a vested interest in preserving its quality of life while protecting the investment that the building or development represents to residents and board members alike. Read More
Vendor Relations
They are the ones who maintain elevators, lay traps for rodents, re-tar the roof, mow the lawn, and rewire the lights in the association clubhouse. If a water main bursts, they repair the leak. You can find them under the boilers, in the flowerbeds, and around the swimming pool. They are the vendors who provide services for your co-op or condominium. Read More
A Look at Phillipsburg
Phillipsburg is one of those small towns that when you hear about it, you want to immediately jump into your car, drive to the area and check it out. Read More
