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Category: Finance

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, in the wake of the recession, with many  shar…

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Finance Watch Your Language
2013 July Watch Your Language

 While the vast majority of one-time projects and long-term service contracts  involving vendors and service providers and their co-op, condominium or HOA  clients go smoothly and either conclude or continue without incident, a small  perc…

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Finance Rebuilding the Pieces
2013 July Rebuilding the Pieces

 While natural disasters have impacted the United States for countless decades—from The Great San Francisco Earthquake of 1906 to 2005’s Hurricane Katrina—these catastrophic events are seemingly occurring with a more severe frequency.  For…

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Finance Balancing the Bottom Line
2013 April Balancing the Bottom Line

 Not everybody on a co-op or condo's board is an accountant (or can even balance  their own checkbook, for that matter.) No doubt, handling large amounts of money for an entire building is a huge  responsibility. Residents, therefore, rely…

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Finance Wallet-Friendly Design
2013 March Wallet-Friendly Design

 Every time someone enters or leaves a building, they travel through at least one  of the common areas. Multiply that times the number of units in a building and you can get a rough  idea of how much faster these areas may wear out than an…

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Finance Letting it Slide...
2013 February Letting it Slide...

 It’s the same dilemma that single-family households across the U.S. are facing:  What bills need to be paid immediately and what bills can wait? And should we  stretch ourselves thin, taking more out of our bank accounts to pay for privat…

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Finance By the Book
2012 December By the Book

 Unless you have a degree in accounting, your first board meeting could come as a  bit of a shock. You probably knew board members oversee the finances of the  corporation, but who knew there were so many records to produce and filing  dea…

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Finance Relief in Tough Times
2012 October Relief in Tough Times

 The age-old adage from Benjamin Franklin perhaps says it best: nothing is  certain but death and taxes.    And without some assistance on the legislative front, taxes are likely to  increase significantly for New York City co-op an…

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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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Finance Flush with Cash
2012 September Flush with Cash

 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.    As the dust cont…

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