2010 July
Focus on... Budget & Finance

Finance
2010 July Overlooked Savings

As annual and quarterly budgets come up for review, HOAs across the state are looking to cut costs anywhere and everywhere they can. But how much more “fat” can be trimmed from budgets that already look stripped to the bone? Happily, th…

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Finance
2010 July Squeeze Play Affects Condos and Lenders

Tighter lending requirements for Federal Housing Administration (FHA)-backed condo mortgages have put financial and administrative pressure on HOAs all over the country at a time when many are ill prepared for any new challenges. …

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Finance
2010 July Deciphering Your Building's Finances

Management of a condominium community is much like the democratic government of a small town. The budget process is remarkably similar, whether it’s fees or taxes being collected, and, as in local government, financial management is a t…

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Finance
2010 July Stop, Thief!

Given recent headlines, condominium, cooperative and homeowner associations could be forgiven for thinking they need to put an armed guard and razor wire around the petty cash box. A wave of fraud appears to be hitting properties from …

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Finance
2010 July "Other-miniums"

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…

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Finance
2010 July Cape May, New Jersey

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…

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Q&A
2010 July Q&A: Proper Notice of Meetings

Q “The board was advised by one of the owners that we must mail all the minutes of each directors' meeting to all the owners. Is this correct?” –Parcel Poster A “The bylaws of the condominium association …

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Q&A
2010 July Q&A: Advisory Committees

Q “With the huge growth of condo and co-op units in New Jersey, it is long overdue for municipalities to form advisory committees to better serve those communities with input on the special needs of condo, co-op owners and renters. …

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Q&A
2010 July Q&A: Board Rule Changer

Q “I am on our condo board. We have a problem with a previous condo board member who maintains that any rules (not bylaw changes) must be enforced by subsequent boards and can never be adjusted or changed. When the former board membe…

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