2012 January
2012 January Vol. 10 No. 1
Focus on...Management
The New England Condo Expo
In the midst of a chilly New England winter, spring may seem ages away. But
professionals serving the community associations industry are already preparing
to showcase their businesses at the New England Condo Expo in May.
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Striking a Balance
As they gaze across azure seas, past palm trees and swimming pools on a tropical
coastline, prospective buyers on HGTV’s “House Hunters” show always ask about the fees. Unlike most would-be residents, though, they
might not bat an eye at the price tag. Closer to home, savvy home shoppers
watch the trends in condo pricing, and want to ascertain just what they’ll pay monthly, on top of the purchase price. If the bottom line is expensive to
most lookers, then selling those units can become a challenge.
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A Day in the Life
If there’s one constant in the property management industry, it’s that there is no constant in the property management industry.
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Friend Us on Facebook
As the calendar approached the start of 2012, more than 800 million people were
on Facebook, 200 million people sent updates on Twitter, around 125 million
were chatting away on MySpace and around 120 million people were registered
users networking on LinkedIn. It’s no wonder that condominium and homeowner associations were using social media
outlets to communicate with their residents, market themselves and build
community.
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A Matter of Style
To be considered an effective manager, one must possess a plethora of skills
including the ability to inspire, motivate and handle multiple tasks at once.
In the end, building managers are only successful when they satisfy, or better
yet, exceed expectations—which can be difficult, especially when interpreting the varied personalities
that comprise most condominium boards.
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Aging In Place
Citizens over the age of 65 comprise nearly 13 percent of the U.S. population—just under 40 million seniors. By 2030, it is estimated that 72 million Americans will be over the age of 65,
nearly doubling those numbers. Where this volume of seniors will live and how,
is a question facing not only the individual seniors but also many boards and
property managers, who are seeing an increased population of older residents. It is to be expected that this group will dramatically change the face of aging
and retirement.
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RIP Fannie & Freddie?
One of the biggest issues in the real estate industry over the past year has
been the speculation that government-sponsored mortgage programs Fannie Mae and
Freddie Mac will be ending. For the past 70 years, Fannie Mae and Freddie Mac
have helped countless Americans secure long-term, fixed-rate mortgages, by
purchasing them from lenders and securitizing them, all with the unofficial
guarantee of the federal government backing them up.
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Q&A: Conflicted in Connecticut
I am the vice president of our board. Just recently, we found out through a real estate ad that the president of the board is selling his unit. Does this pose a conflict of interest? In effect, should the president remain the president while he is selling his unit? He's postponed several meetings where we are supposed to address a maintenance increase. My guess is that he is obligated to tell his prospective buyers about the maintenance increase but one would wonder why these meetings have been continuously postponed. Read More
Q&A: Tackling a Mold Problem
I am the owner of a condo unit. I have a mold problem which stems from water damage coming through the outside bricks. I had a mold assessment company take air and material samples. It was determined that there is extensive mold growth and damage. I assume the management company is responsible for any and all cleaning and repairs to my unit? Read More
