Courts Rule on Underfunded Condo Reserve FundsMorrison, Leni
revealing the financial and logistical challenges of such emergencies. Carl Cesarano, the accountant for the condo and principal atCesarano and Khan, discusses the complex process of securing emergency funding, the importance of reserve funds, and the critical role of engineering assessments.Habitat’s...
ask for copies of at least the three previous years’ financial reports, and make sure your lawyer or accountant reviews them to ensure the community’s finances are sound. Reserve funds are especially important if the building is older, ...
While HOAs play a vital role, it’s essential to be aware of potential issues with their management. Poorly managed HOAs may struggle with financial transparency, delayed maintenance, or inadequate reserve funds, leading to increased fees,special assessments, or deferred repairs. ...
“As one can imagine, there are a plethora of personalities in a community which can easily lead to internal conflict. Topics such as the increase of monthly maintenance fees, community communication, how and where to spend reserve funds, and forecasting needs vs. wants are just a few of ...
The Impact of Fii Regulations in India: A Time-Series Intervention Analysis of Equity Flows This paper examines the impact of reforms of the foreign institutional investors' (FIIs) investment policy, on FII portfolio flows to the Indian stock mark......
“In terms of market demand, the money laundering crackdown had an impact, causing some genuine buyers to hold back to avoid media attention,” she adds. “Transactions also took longer to close due to heightened scrutiny and stricter checks on buyers’ identities and sources of funds.” ...
“A management company arguably has both a contractual and fiduciary duty to notify the association’s legal counsel of wrongdoing or potential liabilities, to advise the board to seek legal counsel based upon the risks as stated by the manager, to use discretion in not alerting wrongdoers of ...
"Lots of stuff just should not be litigated," says Michael Horwitz, a principal with Horwitz & Zim Law Group, PC in Manhattan. "People shouldn't have to run to court all the time for every little thing - more use should be made of mediation and binding arbitration." ...
Understanding condo fees and special assessments is crucial for prospective condo owners. These fees cover everything from building maintenance to amenities and reserve funds. However, unexpected assessments can arise for unforeseen repairs or legal issues. Before purchasing, review the condo’s reserve ...