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Category: Finance

Finance
Anatomy of a Condo Loan

As we’ve reported in previous articles, special assessments are not the only tool condo associations and HOAs have to finance common area improvements and major repairs when needed; there are also loans available in the marketplace to help …

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Finance
Using Reserves to Cover a Cash Shortage

Reserve funds are a normal - and crucial - component of the budget for any co-op and condominium community. Lenders of all types, whether it be the banking institution that holds the underlying permanent mortgage on an entire co-op building…

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Finance
2020 July The Price is…Right?

Even before the COVID-19 crisis hit, the question of where real estate values were going was the elephant lurking in the corner of the room. Some submarkets (like Florida, for example) were strong—and getting stronger. Others (like New York…

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Finance
2020 July Budgeting in a Changed Landscape

Each year, boards are tasked with figuring out the costs associated with all aspects of their community’s operations, including any capital repairs or improvements they plan to undertake in the coming fiscal year, and then making sure the r…

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Finance
2020 July Coping With Cash Flow Problems

Among the many realities made visible (or more visible) by the COVID-19 crisis is the domino theory: when one falls, the others follow. Conceived (and largely disproven) as a political metaphor, the notion has proven more useful when applie…

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Finance
Tapping Reserves in a Time of Financial Crisis

It’s a question we’re asked all the time: "Can we use reserves to cover an operating fund shortfall?" Under normal circumstances, our standard response would be an emphatic “No!” -- because reserves are for major repair and replacement proj…

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Finance
Real Estate Tax & Rent Deferment

As mentioned by this outlet and elsewhere, the New York real estate industry—one of the main contributors to the annual financial tax intake of both the city and the state—has been championing tax relief for owners, landlords, and t…

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Finance
Co-ops, Condos, HOAs & PPP Loans

While individuals and businesses across the country and around the globe attempt to maintain some semblance of stability in a world reeling from the medical, emotional, social, and economic devastation of the coronavirus pandemic, identifyi…

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