Sometimes the future seems like it’s an awfully long way away. If a roof is going to last 30 years, why should we worry about it today? Same with that shiny new air conditioner or that flat, crack-free pavement just poured two summers ago.…
Taking care of a co-op or condo building’s budget and finances is a big job. Handling such large sums of money is an important responsibility, and not every shareholder or unit owner has the expertise to do the job well. Sure, most people …
Imagine sitting down with your significant other to pay the monthly bills. You both put your checks into a joint account and know how much there is to take care of expenses, or so you think. Out of his wallet your husband pulls out receipt…
Q I am a director, and during this past summer, a fellow director, along with our president who has been given approval privileges, have been spending and making unnecessary repairs without the knowledge or votes of the other 5 directors.…
Returning Surplus Funds Q We are a 56-unit condominium. Our bylaws require that end-of-year excess funds be returned to unit owners either in a lump sum or credited to monthly installments until exhausted. Bylaws define excess funds…
Water, Water Everywhere Q Our condo was built in the early ‘80s. The developer didn’t have the foresight to include a slope or pitch when constructing the balconies. (My building has 6 floors, for example). Needless to say, when …
With dozens—and sometimes hundreds—of people living in a community governed by neighbors, acquaintances, and friends, disputes can transpire frequently, as is the case with condos and co-ops. Undoubtedly, disagreements among residents, boa…
Error of Omission? Q Our association recently had to replace a pool safety cover. It was 14 years old and just could not be patched anymore. We got quotes for the cover and selected a vendor. Thinking this replacement would be funde…
Some lucky—and wealthy—co-ops and condos offer the benefits of an indoor or outdoor swimming pool for their residents; it’s a splashy amenity that many people request when looking for a home…but there are many kinks, issues, and liabilitie…
In most instances, the board or management team of a condo or HOA is equipped to handle the wide variety of issues that arise day-to-day, from a leaky roof to dealing with municipal bureaucracy. There are other, bigger issues—things like e…