Successfully running a condominium, cooperative, or homeowners’ association is no small task. A board and/or management must consider the interests of its residents when making sweeping decisions to benefit the property and those who call it home. On top of that, the association must keep abreast of codes, laws, regulations, and rules at local, state and federal levels that may impact how they conduct their business, maintain their buildings, and screen potential applicants – just to name a few important factors. Taking into account that a board is likely made up of volunteers, some or all of whom have full-time jobs that have nothing at all to do with real estate or finance, it seems like a tall order.
Fortunately, there are organizations operating from the national level on down that focus solely on advocating for issues pertinent to multifamily residential associations. When caught in a bind, an owner, shareholder, board member, or even a professional manager can reach out to one of these organizations – many of which are not-for-profit – to, at the very least, receive some guidance on where they can turn to solve their problem.
The New Jersey Cooperator spoke with several leaders of organizations in various markets to discuss their histories, missions, current initiatives, and how interested parties can better get involved with working on behalf of broader condo/co-op/HOA interests.
One Nation, Indivisible?
Codes, regulations, business practices, and even the terminology that shape how associations are run may vary by locale. But when it comes to co-ops in particular, certain overarching issues affect cooperative living nationwide. Those are the issues that the Washington D.C.-based National Association of Housing Cooperatives (NAHC), under the leadership of its president, Greg Carlson, looks to address.
THE NEW JERSEY COOPERATOR: What would you say that the NAHC offers residents who are having problems with their association?