Category: Finance

Finance Follow the Money
2013 July Follow the Money

 If you want to find out about the history of a town, region or country, head to  a museum or look it up on the Internet. If you want to find out about your  family’s history, look at your photo album, whether it’s in a book or online. And…

Read More
Finance Coping with Arrears
2013 July Coping with Arrears

 The foundation of any properly run co-op or condo building rests on residents  paying their monthly maintenance fees on time and in full, with no delays or  delinquencies. Unfortunately, because of the lingering effects of the Recession  …

Read More
Finance Watch Your Language
2013 July Watch Your Language

 A major building rehabilitation for a large condominium community included  impact-resistant replacement windows, at a six-figure cost for materials alone.  The owners’ association advanced money to the contractor to buy the windows. When…

Read More
Finance Letting it Slide...
2013 February Letting it Slide...

 It’s the same dilemma that single-family households across the U.S. are facing:  What bills need to be paid immediately and what bills can wait? And should we  stretch ourselves thin, taking more out of our bank accounts to pay for privat…

Read More
Finance By the Book
2012 December By the Book

 Unless you have a degree in accounting, your first board meeting could come as a  bit of a shock. You probably knew board members oversee the finances of your  association but who knew there were so many records to produce and filing  dea…

Read More
Finance Flush with Cash
2012 September Flush with Cash

In December 2008, the National Bureau of Economic Research announced that the United States was in a recession that had started back in December 2007. The official announcement was old news for most Americans. Most financially…

Read More
Finance Understanding Finances
2012 July Understanding Finances

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 association board, property managers, the unit ow…

Read More
Finance Pay Up!
2012 July Pay Up!

 In the tough economic environment that has hit our nation over the past few  years, many condo owners have faced job loss, pay cuts or just financial  uncertainty. Unfortunately, the signs of the times sometimes leads to an owner  not pay…

Read More
Finance Cash-Strapped?
2012 July Cash-Strapped?

True story: a condominium community’s board of directors spent almost $50,000 in legal fees and court costs to evict a corpulent canine that exceeded the weight limit for residents’ three whole pounds. In another comm…

Read More
Finance Preparing for a Rainy Day
2012 May Preparing for a Rainy Day

 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 …

Read More