ARCHIVE SEARCH RESULTS

Boards should proactively gather information about refinancing underlying mortgages, even before exact borrowing needs are known, to secure optimal terms and avoid delays. Expert advice is crucial.

Refinancing mortgages requires understanding prepayment penalties, which can be sliding scale or yield maintenance-based. Consider lines of credit for cost-effective funding flexibility.

Buildings can bolster their reserve fund by incrementally increasing maintenance or common charges and transferring the extra amount to a separate reserve account. Transparent communication is crucial for this strategy's success.

Effective communication is crucial for managing boards' governance challenges. Managers facilitate discussions, distill information, and encourage transparent communication with shareholders through newsletters and meetings.

The co-op, condo, and HOA sectors are experiencing significant technology disruption, enhancing efficiency and automation in management tasks. New software streamlines operations, offers real-time data, vendor access, and eases tech adoption through education and training.

During a condo's construction project delays, communication is key. Craft clear explanations, don't wait to communicate, and manage expectations to prevent owner concerns and discontent.

Smaller co-ops face unique challenges enforcing rules due to close relationships among residents. Balancing regulations with compromise and collaboration is crucial.

After taking over a self-managed co-op with an efficient but communication-lacking board, new measures like Q&A sessions and newsletters improved relations with shareholders. Tech-savvy additions and improved internal communication have shown positive results.

Incorporating security measures, such as lock plates, security cameras, signage, and package cages, combats package theft in buildings. Open communication with residents enhances prevention efforts.

When taking over a new building, reviewing bylaws, offering plans, and engineer surveys is vital. Schedule B budgeting shortfalls can lead to complex challenges and increased costs. Communication is key.