Addressing the Reality Since brick masonry exterior facades are supposed to have useful lives of 100 years or more, a prevalent myth is masonry facades are virtually maintenance free, needing little discussion by the condo board, and a rare cost item in reserve fund studies. In reality, masonry maintenance is discussed often with a great….
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Finding the Right Contractor
Selection Process All condo or HOA boards face the task of hiring a service provider or construction contractor periodically. The final success of this effort often depends on establishing the initial selection process and following it to its conclusion. Most service contracts are routine and do not require significant planning or project management oversight. This….
Third Party Quality Assurance Construction Services
When weather penetrates a building, it can be a costly issue that compromises the functionality and habitability of the building and may eventually lead to structural issues. While there is no single tactic that will prevent water from entering a building, incorporating Third Party Quality Assurance during construction or renovation is essential for reducing the risk of….
Property Manager Responsibilities
Over the last 20 years, when things go wrong at condo complexes, I often get a call to provide solutions. Sometimes the call comes from the property manager and sometimes it is from a member of the board. Sometimes the call is from a unit owner. These types of inquiries remind me there is often confusion….
Cost Segregation Studies and Bonus Depreciation
For real estate investors and property owners, actively managing tax liability is essential in maximizing ROI. One strategy for reducing tax burdens is a Cost Segregation Study, provided by Criterium Engineers. This is often paired with Bonus Depreciation. When combined, these tools allow property owners to accelerate tax deductions, improving cash flow and boosting profitability. What is….
Where Does Danger Lurk?
Most Common Areas of Concern As a member of the board or the property manager, what element of the condo complex poses the greatest danger to the unit owners and liability to the association? Slips and falls during the icy season? Decks collapsing from rot? Electrical fires? Well, if you picked “decks,” you are almost….
Safety – A New Reserve Fund Focus
Reserve Study Guidelines Are you aware of the significant changes in the Community Association Institute (CAI)’s recommendations for best practices in future reserve fund studies? If you are not, you are not alone. In July 2023, the Foundation for Community Association Research published its Best Practices – Community Association Maintenance manual. Let me explain why this 68-….
The Challenge of Aging Buildings
The Surfside collapse and the resulting loss of life is tragic. In addition to dealing with the far-reaching impact of that collapse, many occupants, owners, and managers of most buildings are now asking whether something similar could happen to their building. The answer is that the structural health and future of any building depends on many variables….
When the FUD hits the fan… run at the fan
Fear, Uncertainty, and Doubt Condo association unit owners’ meetings can be a challenge. Boards often need to make hard decisions. People can become very emotional when it comes to issues affecting their money and they feel a lack of control. From what I hear the New England meetings I attend are mild compared to the….
Get Ready for Climate Change
Gale Flags Are Flying! Is your condo or HOA ready for a climate change future? Currently we are in the middle of a hurricane season predicted to be one of the worst in recent times in terms of both frequency and severity of future storms. Prior to June when the hurricane season started, Maine’s Superintendent….