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 …
“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. “…
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…
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…
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…
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…
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…
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…
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 …