2012 May
2012 May Vol. 10, No.5
Focus on...Recreational Amenities & Programs/Expo
Mark Your Calendar for Expo 2012
For half a decade now, The New Jersey Cooperator’s Condo, HOA & Co-op Expo has been the annual must-attend event for the Garden State’s property managers, board members, real estate professionals, shareholders and
unit owners. Returning to the Meadowlands Exposition Center in Secaucus this
year on Wednesday, May 9 from 10 a.m. to 5 p.m., the 2012 Expo will showcase
over 200 exhibitors from throughout the region, along with free advice booths
and a full slate of educational seminars.
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Building Community Online
It’s hard to imagine how quickly technology has evolved during our lifetimes, and
much of that change is a result of how much closer we’ve become—virtually, that is. Whether it’s finding cheap plane tickets, or a restaurant for a Saturday night on the town,
the Internet seems to always have the answers. Technology also has transformed
the way we communicate by providing us with new places to correspond, through
email, message boards and social networking websites. But what is readily
available at our fingertips is not always properly used, even if it seems to
provide immediate satisfaction.
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Space, the Final Frontier
This is about the easiest decision—the closest thing to a no-brainer—a co-op or condo board of directors will ever need to consider: what to do with
vacant space.
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Attractive Perks
You’ve got the perfect couple looking into buying a condo in your building. And they
love everything about the unit.
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Managing In-Unit Amenities
In an online forum, Sharon complains about her upstairs neighbor and begs for
advice. Her neighbor had installed a washing machine in her unit, even though
there was one already downstairs for the residents of her six-unit building to
use. As a result of the neighbor’s improper installation, her appliance overflowed, resulting in a flood of water
that came pouring into Sharon’s unit through heating and air vents. Now, Sharon’s wall-to-wall carpeting is ruined and she’s concerned about mold and other damage.
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Water Conservation
Water, water everywhere, and not a drop to drink,” goes the old saying. When there’s a water shortage, that saying takes on new meaning—not only is there not a drop to drink, but not a drop to water the lawns. And what is the Garden State without gardens?
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Dealing with Delinquent Owners
By and large, a board and management company can expect payment from residents
for monthly fees to be received on time and in full. These all-important funds
keep day-to-day operations moving forward without hiccups. There are
situations, however, that arise which can offset the balance sheet.
Circumstances run the gamut but in the end, monies that can’t be collected end up costing a whole lot more than the losses they represent.
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The Northeast Spa & Pool Association
As the weather gets warmer with the arrival of spring, condo, HOA and co-op
residents are getting the urge to cool off in their community swimming pool or
relax in their heated clubhouse spa.
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Parking Practices
In some densely-populated New Jersey cities and townships, parking is a big deal—it’s hard to find exactly the right space when you need it and when you do find it,
it’s usually very expensive. Since parking spaces are such a hot commodity,
especially in urban areas like Hoboken and Jersey City, it’s not surprising that many co-op and condo buildings operate their own parking
facilities, both as an amenity for residents and as a source of revenue. And
which of these benefits the building’s residents most value—the money earned from the facility or their own convenience—could be the deciding factor in how their board of directors or board of
managers decides to manage the garage. Read More
The Insurance Puzzle
Insurance is a relatively simple concept that any homeowner can understand. You purchase a policy paying a premium to an insurer, and when a claim gets
filed, the insurer pays. So in theory, insuring your co-op, condo or HOA should
be virtually the same principle—only on a larger scale, right?
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