Owners of condominiums and cooperatives in urban areas of New Jersey like Hoboken or Jersey City with parking garages in or adjacent to their building are blessed in so many ways. The ability to drive right up to your front door provid…
Category: Finance
We all want to get what we pay for—and nobody wants to pay for goods or services they don't actually receive. This is especially true of homeowners associations when it comes to big-ticket municipal services like snow and garbage remova…
As the recent recession has lingered on, co-ops and condo associations across the region—from luxurious waterfront high-rises to sprawling suburban developments—have found more of their residents in arrears with their monthly fees. Some …
The day-to-day costs of running a multifamily residential building are significant. There’s the fuel oil, electric, cleaning supplies, equipment maintenance and service calls for repair and upkeep. Then there are the insurance costs, la…
Tsunamis, earthquakes, tornadoes—these are just a few of the devastating disasters that have made headlines already in 2011 and created emergency situations that many never thought possible. As the past year’s calamitous snows…
Perhaps one of the most difficult aspects of the recent recession was the sudden evaporation of credit from major banks and lending institutions. The logic behind it was understandable: too much easy credit had led, in part, to the col…
Consider the following all-too-common scenario: your condominium association has one delinquent unit owner who owes three months of common charges totaling $915.00 before late fees. Statements have been sent without response, and telep…
After receiving over 4,200 comments on a proposal that would have eliminated flip taxes and transfer fees in co-ops, condos and HOA communities, the Federal Housing Finance Authority (FHFA) has reconsidered its position and will allow …
Known for its quaint Victorian cottages and pristine beaches, Cape May, New Jersey has been a seaside destination for generations. In fact, it is widely recognized as the oldest seaside resort in the country. Wealthy Northeasterners an…
The concept of "condominium living" has changed quite a bit since the term was first coined a generation ago. Since the 1960s and ‘70s, when condominium home ownership became a widely available, viable alternative to single-fa…