This summer more than ever the return of out of state condo owners will be an increased challenge for the many condominium communities in those areas most popular to tourists. New England has a significant population of condominiums along its rocky coast and mountainous regions serving as primary or secondary homes for bi-latitude unit owners…..
Homeowner Associations News
If you’re planning a re-roofing project, we recommend in-depth consideration of the building ventilation under the roof. Inadequate attic venting can cause ice dams, energy loss, and moisture damage to the roof structure. Too often roof re-surface projects repeat the mistakes of the past. A proper roof project includes a review of the capacity of….
The time has come for your homeowners’ association (HOA) to complete a reserve study. Where do you begin? An online search presents a wide range of companies that perform reserve studies for homeowner associations. Why should an HOA in need of a reserve study hire an engineer versus a reserve specialist, accountant, or other type of….
In the world of condominiums, many transition milestones are well understood, many are not. Most know condos go through a transition management period from the developer to unit owner. However, there is much more. Condo transition has two primary elements: Transition of Control and Transition of Responsibility. Transition of Control Transition of Control refers to the new Board….
A Reserve Study is a budget-planning tool used by Homeowners Associations that identifies the current status of the Reserve Fund and establishes a stable and equitable funding plan to offset anticipated common-area expenditures. They contain an evaluation of property condition and serve as an indispensable tool in projecting costs and managing Reserve accounts. A quality Reserve….