Category: Finance

Finance
2017 September Appropriate Use of Common Funds

For the board members and managers handling the successful operation of a co-op or condo community, one of their biggest responsibilities revolves around their fiduciary duties. They are, after all, dealing with people’s biggest assets: the…

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Finance
Controlling Legal Costs

Lawsuits are expensive endeavors, period. But what about everyday legal costs - contract vetting, sending documents back and forth, assessing prospective purchasers' information, and so forth? How can boards keep a lid on those expendit…

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Finance
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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Finance
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
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
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
The Benefits of Reserve Studies

What's a reserve study, and why should your building or HOA conduct them regularly? Find out why they're a crucial part of your community's financial, mechanical, and structural health! 

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