2012 January
2012 January Vol. 2, No.1
Focus on...Management/Board Relations
Revenue or Reduction
It’s the same dilemma that single-family households across the United States are
facing: How much money can we afford to pay for the services we want? And
should we stretch ourselves thin, taking more out of our bank accounts to pay
for private schools and that desperately needed vacation? Or should we cut back
on restaurants and renovations to put more into savings?
Read More
A Manager's Life
When your community, co-op or condominium building is externally managed, the
bills get paid, assessments get collected, light bulbs get changed, and lawns
get mowed. And believe it or not, it’s not little elves that take care of these things, but often a team of pros that
work under the umbrella of your property management company. Those are just
several of their many duties. If managers are doing their jobs right,
homeowners might not even realize how many different things, both big and
minute, that their property management company does. The job description is as
varied as a day in the life of a property manager.
Read More
Friend Us on Facebook
With smart-phones dominating the cellular market, people now have Internet
access anywhere and everywhere they go. While shopping and “googling” are leading reasons to use the Internet, the rise of social media has radically
changed the way people interact with one another, with businesses, and even
with their condo association neighbors and administrators.
Read More
A Matter of Style
When visiting different doctors, have you noticed that they all have different
personalities? One doctor is friendly and talkative, but another is the polar
opposite—he forgoes the chit-chat, completes a thorough examination, and says goodbye,
matter-of-factly reminding you to make an appointment for your next visit. One
doctor is timid and reserved while the other one is aggressive and loud. And
they all have their own ways of getting the job done.
Read More
Aging in Place
Citizens over the age of 65 comprise nearly 13 percent of the U.S. population—just under 40 million seniors. By 2030, it is estimated that 72 million Americans will be over the age of 65,
nearly doubling those numbers. Where this volume of seniors will live and how,
is a question facing not only the individual seniors but also many boards and
property managers, who are seeing an increased population of older residents. It is to be expected that this group will dramatically change the face of aging
and retirement.
Read More
Managing Properties in Tough Times
The economy cratered—to use a term in popular parlance at that time—in September 2008, with the collapse of too-big-to-fail Lehman Brothers. While
the measures undertaken by the federal government and the Federal Reserve
averted complete financial meltdown—it never reached the point where we had to transport the necessary dollars to
buy a loaf of bread in a wheelbarrow, as happened in Italy a few decades ago—the last few years have been a litany of ominous economic indicators.
Read More
RIP Fannie & Freddie?
One of the biggest issues in the real estate industry over the past year has
been the speculation that government-sponsored mortgage programs Fannie Mae and
Freddie Mac will be ending. For the past 70 years, Fannie Mae and Freddie Mac
have helped countless Americans secure long-term, fixed-rate mortgages, by
purchasing them from lenders and securitizing them, all with the unofficial
guarantee of the federal government backing them up.
Read More
Not Just a Pretty Face
Descriptions of “vintage,” “refurbished” and “pre-owned” can persuade the decision toward some purchases—cars, computers, that perfect James Dean-era leather jacket—but for South Florida homebuyers, the allure of shiny and new is often too hard
to ignore. Moving into a brand-new building or even a gut rehab certainly has
its benefits, but there are also plenty of downsides to buying new units. Smart
buyers brush up on these potential pitfalls before finding themselves in a
money pit. And if it’s too late for that, then there are certain courses of action that can help
recoup some losses.
Read More
Working Towards a Resolution
Sometimes in the heat of the moment, when disagreements are at their worst, the
possibility of solving a problem without going to court seems remote at best.
Arguments may have been brewing for days or weeks with each side becoming more
and more entrenched in their own rationale and reasoning. Lines may have been
drawn in the sand and threats of litigation hurled with reckless abandon.
Read More
Q&A: Lack of Attendance at Meetings
Our association holds monthly meetings on the same time, day and location every month. Notices are posted in the elevators and common areas one week in advance—yet no one attends. If binding votes are required to be in the presence of owners in an open meeting, what happens when there are no attendees? Read More
