Condo Media - February 2024 - 15

however, if the property does suff er
loss, especially a large claim like
a major fi re, the association will
have no recourse to fund recovery
eff orts other than through paying
" out of pocket " from cash reserves
or by assessing unit owners.
For this reason, it's not hard to
envision scenarios in which selfinsuring
is a losing strategy - it only
takes one large claim to wipe out
years and years of premium values
(and then some).
Furthermore, there is a major
structural barrier impacting
most community associations
that would preclude them from
self-insuring, even if they possess
the desire and financial wherewithal
to do so. When a unit is for
sale within the community, the
ability for a potential buyer to
finance their purchase through
a lender is very important.
Often when mainstream lenders
are financing the purchase of a
While increasing
insurance costs
beg the question
of aff ordability,
outright selfinsurance
is
usually not a
viable option for the
average community
association.
condo unit, they are going to
require the property they are lending
against to be properly insured,
and they're going to require formal
evidence of in-force coverage from
the association's insurance provider.
If an association decides to selfinsure
property (or other core
risk exposures such as general
liability, for example), it runs the
risk of making it difficult (or impossible)
for potential buyers to obtain
financing for a transaction.
While increasing insurance costs
beg the question of aff ordability,
outright self-insurance is usually
not a viable option for the average
community association. That said,
rather than fully self-insuring, associations
in the current environment
certainly can and should look at taking
on more risk via higher deductibles;
in that instance, premium savings may
be available without completely " rolling
the dice " that the association will
completely avoid costly claims.
Banking that treats you like a
neighbor. Not a number.
southshorebank.com/condo
A banking program specifically for
condominiums!
Competitive interest rates and lending solutions.
Amortization timeframes up to and beyond 15
years.
Loans customized to meet your association's
needs.
A team of experts with more than a decade of
condominium experience.
Nick Mari
Condo Banking Relationship Manager
NMari@SouthShoreBank.com
781.682.3724
Kim Frithsen
Condo Banking Relationship Manager
KFrithsen@SouthShoreBank.com
781.682.3719
February 2024 CONDOMEDIA 15

Condo Media - February 2024

Table of Contents for the Digital Edition of Condo Media - February 2024

Contents
Condo Media - February 2024 - Intro
Condo Media - February 2024 - Cover1
Condo Media - February 2024 - Cover2
Condo Media - February 2024 - Contents
Condo Media - February 2024 - 2
Condo Media - February 2024 - 3
Condo Media - February 2024 - 4
Condo Media - February 2024 - 5
Condo Media - February 2024 - 6
Condo Media - February 2024 - 7
Condo Media - February 2024 - 8
Condo Media - February 2024 - 9
Condo Media - February 2024 - 10
Condo Media - February 2024 - 11
Condo Media - February 2024 - 12
Condo Media - February 2024 - 13
Condo Media - February 2024 - 14
Condo Media - February 2024 - 15
Condo Media - February 2024 - 16
Condo Media - February 2024 - 17
Condo Media - February 2024 - 18
Condo Media - February 2024 - 19
Condo Media - February 2024 - 20
Condo Media - February 2024 - 21
Condo Media - February 2024 - 22
Condo Media - February 2024 - 23
Condo Media - February 2024 - 24
Condo Media - February 2024 - 25
Condo Media - February 2024 - 26
Condo Media - February 2024 - 27
Condo Media - February 2024 - 28
Condo Media - February 2024 - 29
Condo Media - February 2024 - 30
Condo Media - February 2024 - 31
Condo Media - February 2024 - 32
Condo Media - February 2024 - 33
Condo Media - February 2024 - 34
Condo Media - February 2024 - 35
Condo Media - February 2024 - 36
Condo Media - February 2024 - 37
Condo Media - February 2024 - 38
Condo Media - February 2024 - 39
Condo Media - February 2024 - 40
Condo Media - February 2024 - 41
Condo Media - February 2024 - 42
Condo Media - February 2024 - 43
Condo Media - February 2024 - 44
Condo Media - February 2024 - 45
Condo Media - February 2024 - 46
Condo Media - February 2024 - 47
Condo Media - February 2024 - 48
Condo Media - February 2024 - Cover3
Condo Media - February 2024 - Cover4
https://www.nxtbook.com/caine/condomedia/202501
https://www.nxtbook.com/caine/condomedia/202412
https://www.nxtbook.com/caine/condomedia/202411
https://www.nxtbook.com/caine/condomedia/202410
https://www.nxtbook.com/caine/condomedia/202409
https://www.nxtbook.com/caine/condomedia/202408
https://www.nxtbook.com/caine/condomedia/202407
https://www.nxtbook.com/caine/condomedia/202406
https://www.nxtbook.com/caine/condomedia/202405
https://www.nxtbook.com/caine/condomedia/202404
https://www.nxtbook.com/caine/condomedia/202403
https://www.nxtbook.com/caine/condomedia/202402
https://www.nxtbook.com/caine/condomedia/202401
https://www.nxtbook.com/caine/condomedia/202312
https://www.nxtbook.com/caine/condomedia/202311
https://www.nxtbook.com/caine/condomedia/202310
https://www.nxtbook.com/caine/condomedia/202309
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202308
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202307
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202306
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202305
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202304
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202303
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202302
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202301
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202212
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202211
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202210
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202209
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202208
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202207
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202206
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202205
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202204
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202203
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202202
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202201
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202112
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202111
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202110
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202109
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202108
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202107
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202106
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202105
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202104
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202103
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202102
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202101
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202012
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202011
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202010
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202009
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202008
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202007
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202006
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202005
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202004
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202003
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202002
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202001
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201912
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201911
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201911_v2
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201910
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201909
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201908
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201907
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201906
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201905
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201904
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201903
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201902
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201901
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201812
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201811
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201810
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201809
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201808
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201807
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201806
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201805
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201804
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201803
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201802
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201801
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201712
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201711
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201710
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201709
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201708
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201707
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201706
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201705
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201704
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201703
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201702
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201701
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201612
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201611
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201610
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201609
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201608
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201607
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201606
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201605
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201604
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201603
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201602
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201601
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201512
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201511
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201510
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201509
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201508
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201507
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201506
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201505
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201504
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201503
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201502
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201501
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201412
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201411
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201410
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201409
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201408
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201407
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201406
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201405
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201404
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201403
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201402
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201401
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201312
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201311
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201310
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201309
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201308
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201307
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201306
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201305
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201304
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201303
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201302
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201301
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201212
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201211
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201210
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201209
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201208
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201207
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201206
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201205
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201204
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201203
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201202
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201201
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201112
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201111
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201110
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201109
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201108
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201107
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201106
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201105
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201104
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201103
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201102
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201101
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201012
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201011
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201010
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201009
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201008
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201007
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201006
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201005
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200904
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201003
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201002
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201001
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200912
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200911
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200910
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200909
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200908
https://www.nxtbookmedia.com