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 project…
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…
Whether you’re living in a co-op apartment building in Manhattan, a condo on Chicago’s Gold Coast, or a townhouse community or HOA in Las Vegas, Reno, or Florida, issues of legality and liability are always a concern for owners, board membe…
By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the sa…
Whether you live in a super-luxe Park Avenue co-op in New York City, a waterfront condo on Lakeshore Drive, a sprawling HOA in Nevada, or a multifamily community in Miami, one thing is certain: you have neighbors. Hopefully they’re the peop…
For many buyers, a key factor in deciding to purchase a home in a residential community rather than opt for private, single-family ownership is often the appeal of amenities that come with condo, co-op, and HOA living—pools, gyms, clubhouse…
Whether you reside in, manage, or serve on the board of a co-op, condo, or HOA, examining your building’s energy efficiency from top to bottom, inside and out, will have enormous implications for individual and communal costs, energy conser…
Having an elevator to spare you from trudging up a dozen flights of steps is a valuable amenity - but what happens if you've only got one, and it needs a major repair, or even needs to be replaced entirely? How will upper-floor residents - …
COVID-19 has caused more far-ranging, persistent anxiety than any other event in recent history. It has affected our jobs, our living situations, and the way we interact with others, and it’s not done with us yet. Scientists and public heal…
A few years ago, I was on the phone with a homeowner. He was irate with how his community’s money was being spent. He was unhappy with the budget increase. It was a call I took regularly from any one of my homeowners (and more often than no…