News
WINTERIZATION TIPS FOR PROPERTY MANAGERS AND PROPERTY OWNERS
November 9th, 2023
Winters in the Northeast can be a trying time for property managers and property owners the like, especially if not prepared for what might lie ahead. Here are my top ten tips for avoiding winter disasters.
HOW TO RUN A HOA MEETING
November 9th, 2023
Being on a homeowners’ association board means volunteering your time for the best of your whole community. It can be an incredibly fulfilling role, but it involves dealing with differences in opinion and finding times to get everyone together.
WHAT IS A RESERVE STUDY FOR YOUR HOA?
November 9th, 2023
The Reserve Study analyzes repair and replacement needs like roofing and painting that happen every year and provides a funding plan for accumulating money to perform this work when it’s needed. It is more a budgeting function than a construction or building analysis, although there is an element of that. The study is usually based on visual observations as opposed to forensic or destructive testing (tearing walls and roofs apart to see what's underneath). The Reserve Study assumes that regular and adequate maintenance is being done to prevent premature repairs or replacements. There are several parts to the Reserve Study process:
LIENS PURSUANT TO THE NEW JERSEY CONDOMINIUM ACT
November 9th, 2023
Question: I’ve heard that when a mortgage lender forecloses on a condominium unit, the association is entitled to six (6) months of assessments. I’ve also heard that the association has “limited priority” over the mortgage. Is that true? What does that really mean?
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