Category: Finance

Finance Financial Firestorms
2014 July Financial Firestorms

One of the biggest problems that can cause the downfall of any condo or co-op is a lack of funds, or more specifically, not enough money to keep operations running smoothly and to make the necessary repairs to keep everything up to par. …

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Finance Cutting Costs – Without Cutting Corners
2014 July Cutting Costs – Without Cutting Corners

As the 2012 federal legislative fiasco over the debt ceiling—as well as any number of other spending bills proposed since then—demonstrated, balancing a budget can be like pulling teeth. Balancing a condo or HOA community's budget can some…

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Finance Budgeting and the Bottom Line
2014 July Budgeting and the Bottom Line

Preparing the annual budget is by no means an easy task. Those charged with preparing condominium or HOA budgets will soon begin reviewing costs, gathering data and projecting expenses for the coming year. Communities, businesses, individu…

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Finance The Good, the Bad and the Ugly
2013 September The Good, the Bad and the Ugly

While natural disasters causing catastrophic property damages are increasing every year, associations also have to be prepared for other unexpected expenses, such as a roof replacement or a new heating and cooling system. These major capit…

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Finance The Chicago Cooperator's Condo, HOA & Co-op Expo
2013 July The Chicago Cooperator's Condo, HOA & Co-op Expo

 The Chicagoland Cooperator's Condo, HOA & Co-op Expo second expo last fall was by all accounts a huge success as the  event attracted thousands of attendees from all across the region for a full  day of education and networking.   …

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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…

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Finance Coping With Arrears
2013 July Coping With Arrears

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

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Finance Watch Your Language
2013 July Watch Your Language

 The vast majority of both one-time projects and long-term service contracts  involving vendors and service providers and their condominium or HOA clients go  smoothly and either conclude or continue without incident. However, a small  per…

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Finance Flush with Cash
2012 October Flush with Cash

Q 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-savvy …

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Finance Understanding Operating Costs
2012 October Understanding Operating Costs

 In your own household, you have money coming in and money going out. You have  things you want to save up for—say, a new cool high-def, flat screen television or the latest iPad. Yet you owe  your car company and your creditors. To keep i…

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