2017 July
Focus on... Budget & Finance

Finance Inadequate Reserves
2017 July Inadequate Reserves

There are few feelings worse than encountering an unexpected expense and finding the piggy bank empty. That is why reserve funds and reserve studies are such important elements in the financial well-being of co-ops, condos, and homeowners’ …

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Finance What Boards Should Know About Finances
2017 July What Boards Should Know About Finances

Money, money, money. The world runs on it. And your building’s well-being depends on it. The issue is not just having funds, but managing them. Handling the purse for an entire building or HOA is a major responsibility, and boards -- even …

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Finance Funding Capital Projects
2017 July Funding Capital Projects

You work hard and try to put money away to be used for a rainy day —hoping of course that that ‘rainy day’ is a long-awaited trip to somewhere fabulous and tropical. Then, boom—the brakes on your car suddenly go, or one of the kids needs br…

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Finance Financial Oversight, Checks & Balances
2017 July Financial Oversight, Checks & Balances

When it comes to hiring professionals – either to do work on a property, or provide some sort of service for a co-op/condo/HOA community—it’s generally the property manager who solicits bids, goes over proposals, and cuts checks to pay for …

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Q&A Q&A: Do I Have to Remove My Tree?
2017 July Q&A: Do I Have to Remove My Tree?

Q. The board is asking me to remove my tree on my property where I’ve lived for over 20 years. I believe it’s the board’s responsibility to maintain or remove the tree, not mine.  In a letter sent to me, they said that they are concerned…

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Q&A Q&A: Seeking Compensation for Damages to My Unit
2017 July Q&A: Seeking Compensation for Damages to My Unit

Q. I own a co-op and I had some damages to the walls of my kitchen, bedroom, and bathroom caused by water and/or leak coming from the side of the roof. I even had to change the kitchen wall, cabinets and floor because of the mold and dama…

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