Q I live in a 51-unit condo complex in Essex County, New Jersey. The association is attempting to get a loan for needed repairs of at least $200,000, however three attempts were denied due to a delinquency in condo dues totaling $35,000…
“We have 500 condo accounts and I can count on one or two hands the number of the ones that are not having issues with arrears,” reports Karen Sackstein, CPA, whose accounting firm, The Condo Queens, is based in Fair Lawn, New Jersey. “…
Money is a topic people are often skittish about discussing—especially when the discussion involves rising fees, or having to pay more money for something. When you’re a board member or the property manager of a condo building or residen…
Attorneys who represent co-ops, condos and HOAs in the Garden State often have to litigate cases that have evolved from unforeseen circumstances; they understand the legal boundaries that people in multifamily communities sometimes tre…
Q I live in a 51-unit condo complex in Essex County. The association is attempting to get a loan for needed repairs of at least $200,000, however, three attempts were denied due to the delinquency in condo dues totaling $35,000. There a…
Q The board of our condo issued a ruling that any unit owner who is behind in payment of common charges cannot vote at the annual meeting. Our bylaws only say that each owner is entitled to one vote. No mention is made about denying th…
Birds in flight may be beautiful, but their departure sometimes leaves the nest unprotected. And when that nest is in a condominium community, property managers and boards must do their best to compensate. This region is full …
Q Who is responsible for a faulty faucet spindle inside the wall which caused a water leak inside the wall and which was unbeknownst to the shareholder but damaged the apartment below? My superintendent had to chip into the wall to rem…
Good afternoon—and welcome to the board. Your mission should you choose to accept it is to make decisions to better your building. The residents may not like you and, more importantly, may not like those decisions. Nevertheless, keep do…
Recent developments, both legislative and environmental, have led to considerable changes in the New Jersey insurance marketplace. And such changes, as managers know, often lead to added paperwork, confusing requirements, and tricky le…