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Category: Association Operations

Insurance
2004 Aug The Value of Directors and Officers Insurance

Imagine you sit on a board of directors that makes a mistake or error in judgment that results in a lawsuit. Imagine the case goes to trial, and the judge awards the plaintiff hundreds of thousands of dollars in damages. Now imagine that…

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Finance
2004 Jul Large Associations Face Sales Tax Audits

The New Jersey Division of Taxation is cracking down and performing more sales/use tax audits of Common Interest Realty Associations (CIRAs) of all types—co-ops, condominium associations, and apartment buildings—than ever before. There a…

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Finance
2004 Jul Reverse Mortgages

Buy a motor home and travel the country. Pay for grandson Johnny's college education. Fix up that old kitchen you've been complaining about for decades. These are things you've been wanting to do for years and years, but, though you've w…

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Finance
2004 Jul Making Special Assessments Easier to Swallow

Unexpected repairs are part of owning a home. For owners of single-family houses, the process is simple: Something needs fixing or replacing, and you call a contractor and get the work done. You may not be happy about it, but you accept …

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Management
2004 Jul The Role of Your Property Manager

A Budget planning is a key component of any association's operations and preparation, and usually falls on the property manager's shoulders. However, he or she does more than just what the title implies—the manager is a "jack of all trad…

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Finance
2004 Jul Surviving Financial Storms

Planning is the key to maintaining a balanced budget for co-op and condo associations. Knowing your budget, predicting expenses, even predicting the unpredictable are all vital components to having a sound bottom line and keeping your sh…

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Finance
2004 Jul Financial Planning

In a co-op or condo community, the responsibility of the homeowners association goes beyond setting house rules. The association also has a fiduciary responsibility to collect maintenance fees from its residents, create a budget to accou…

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Landscaping
2004 May Does Your Uneven Sidewalk Need Mudjacking?

Years ago, the only remedy for uneven sidewalks or foundations was what pros in the business call "rip-and-repour," which means tearing out the old pavement slab and pouring a new one—and spending a lot of time and money doing it. B…

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Landscaping
2004 May The Basics of Swimming Pool Maintenance

Summer is coming, and with it the scorching hot weather our tri-state area is notorious for. Many buildings and homeowners associations, however, have swimming pools on-site that help take some of the bite out of the hotter months. Swimming…

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Landscaping
2004 May Get Ready For the Good Weather

The tri-state area was hit with another tough winter this year with heavy rain, snow and bitter temperatures. But now that the gloomy days have passed and the sun is shining again, it's time for condos and co-ops to get their recreational a…

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