The Gravity of an Unbalanced Budget

There’s a right way and a wrong way to keep monthly charges low.  Running deficits is no way to run a cooperative or a condominium. It usually leads to shuffling money around – paying off one contract late or shifting payments among contractors – and it can backfire.  “If you’re not paying people on time, then you’re not getting prime vendors and prime rates,” says Stuart Halper, co-owner and vice president of Impact Real Estate Management. “Your management company is also going to suffer because when they call the plumber who wasn’t paid in one building, the plumber’s going to say, ‘Why should I go to this other building for you?’”      Read the article…………….


Related Articles

When the homeowners association is on the hook

I’ll be honest. Most of the time I am advising homeowners on how to protect themselves from their HOA. But

Drones Are in the Air and in the News ? They Should Also Be on Board Agendas

When it comes to technology I am somewhat of a technophobe. I was a Blackberry holdout and I still read

Why You Need to Worry About Community Association Landscaping

Ever heard the phrase “first impressions are the most lasting?” We’re betting you have, and were betting you’ve experienced the