Category: Finance

Finance
2012 October What's in Your Wallet?

 Unless it's a thoughtful gift or a party in their honor, nobody likes surprises.  That's especially true when it comes to sudden, serious, or non-negotiable  repairs to a condo building or HOA. A community must have enough money saved to …

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Finance
2012 September The Nuclear Option

 “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. “…

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Finance
2012 July Understanding Finances

 For a crystal-clear picture of how an association is doing, there are few better  lenses than the community's budgets and financial reports. From an investment  perspective, they show the shareholders, managers, tenants, owners, and board…

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Finance
2012 July Pay Up!

 In the tough economic environment of the past few years, many condo owners have  faced job losses, pay decreases or just financial uncertainty. Unfortunately,  this sometimes leads to owners not paying their common charges.    “Obv…

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Finance
2012 July Cash-Strapped?

 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…

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Finance
2012 May 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. But before that can happen there’s…

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Finance
2012 April Spending Green, Staying Green

 These days, everybody is looking to save money—or dealing with the repercussions of not having saved enough in the past. And  while lawns and shrubbery might seem like luxury items to some condo and co-op  residents, aesthetics and curb a…

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Finance
2011 December Year End Housekeeping

 Organizing and keeping a co-op or condo’s books and other records is, on the surface, not that different than keeping a  budget for one’s home.    But there are many important differences—filing deadlines, tax requirements, reports…

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Finance
2011 October Creative Financing for Your Co-op or Condo

The main source of any condo or co-op’s revenue comes from monthly maintenance fees. That seems self-evident. But sometimes a building or development may suddenly need to undergo emergency repairs or fund large capital improvem…

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Finance
2011 July Good Board, Bad Board

 It doesn’t matter if you are managing a towering high-rise or a sprawling suburban  association, co-op and condo boards usually have their fair share of problems  to be solved and emergencies to be defused. Talk to enough people who have …

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