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…………….

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