Condo Media - April 2017 - 37

could do the same thing," Huijing
suggests.
From a reserve planning standpoint, solar panels can be challenging,
he notes, because the rapid decline in
prices makes it difficult to estimate
future replacement costs. "If you
had tried to predict solar costs today
based on the 2010 prices," Huijing
says, "you would have way overfunded for the replacement." His suggestion: Use current prices to set the
reserve contribution, "but re-evaluate
the numbers every couple of years" to
make sure you're not setting aside a
lot more money than you're going to

From a reserve planning
standpoint, solar panels
can be challenging, because the rapid decline
in prices makes it difficult to estimate future
replacement costs.

need to replace the panels in 30 years.
Solar panels installed on roofs will
also affect reserve estimates for roofing projects, Huijing notes. "You have
to include the cost of removing the
solar system and replacing it," which
can add $25,000 or more to the total.
Noblin says he's finding that more
condominium boards are considering
long-term reserve funding issues such
as this. "They are saying, 'this planfor-the-future thing makes sense.'
They're not crazy about it, but they're
seeing the need to do it." Although

he's been having this conversation
with condominium boards "for years,"
Noblin thinks they are generally "in a
better place" when it comes to reserve
planning. "They're not where they
need to be," he says, "but it's certainly
better than it was."

n NENA GROSKIND IS PRESIDENT
OF ECONTENTPLUS, PROVIDING
EDITORIAL CONTENT FOR
WEBSITES, PRINT AND ELECTRONIC
NEWSLETTERS, AND MAGAZINES.

Managing complex relationships
is second nature to NSB

Peter Kitsakos, Gemini Property Management
and North Shore Bank Commercial Loan Officer,
Lisa Scopa at Bartlett's Reach in Amesbury, MA

In the fast-paced, ever-changing banking industry, our
clients have found a true partner in North Shore Bank.
NSB offers the loan and deposit products that our clients
need - delivering them with expert, personalized service."

Peter Kitsakos | Gemini Property Management
(978) 346-8900 - pjk@geminiproperty.com

Commercial & Industrial Lending | Commercial Real Estate Lending
Construction & Development Lending | Condominium Assn. Lending
northshore-bank.com |
Member FDIC

Member SIF

Equal Housing Lender

For information about commercial lending at North Shore Bank
call us at (877) 712-7000 or visit northshore-bank.com/lenders
April 2017

37



http://www.northshore-bank.com http://www.northshore-bank.com http://www.northshore-bank.com/lenders

Condo Media - April 2017

Table of Contents for the Digital Edition of Condo Media - April 2017

Table of Contents
Condo Media - April 2017 - Intro
Condo Media - April 2017 - BB1
Condo Media - April 2017 - BB2
Condo Media - April 2017 - Cover1
Condo Media - April 2017 - Cover2
Condo Media - April 2017 - Table of Contents
Condo Media - April 2017 - 2
Condo Media - April 2017 - 3
Condo Media - April 2017 - 4
Condo Media - April 2017 - 5
Condo Media - April 2017 - 6
Condo Media - April 2017 - 7
Condo Media - April 2017 - 8
Condo Media - April 2017 - 9
Condo Media - April 2017 - 10
Condo Media - April 2017 - 11
Condo Media - April 2017 - 12
Condo Media - April 2017 - 13
Condo Media - April 2017 - 14
Condo Media - April 2017 - 15
Condo Media - April 2017 - 16
Condo Media - April 2017 - 17
Condo Media - April 2017 - 18
Condo Media - April 2017 - 19
Condo Media - April 2017 - 20
Condo Media - April 2017 - 21
Condo Media - April 2017 - 22
Condo Media - April 2017 - 23
Condo Media - April 2017 - 24
Condo Media - April 2017 - 25
Condo Media - April 2017 - 26
Condo Media - April 2017 - 27
Condo Media - April 2017 - 28
Condo Media - April 2017 - 29
Condo Media - April 2017 - 30
Condo Media - April 2017 - 31
Condo Media - April 2017 - 32
Condo Media - April 2017 - 33
Condo Media - April 2017 - 34
Condo Media - April 2017 - 35
Condo Media - April 2017 - 36
Condo Media - April 2017 - 37
Condo Media - April 2017 - 38
Condo Media - April 2017 - 39
Condo Media - April 2017 - 40
Condo Media - April 2017 - 41
Condo Media - April 2017 - 42
Condo Media - April 2017 - 43
Condo Media - April 2017 - 44
Condo Media - April 2017 - 45
Condo Media - April 2017 - 46
Condo Media - April 2017 - 47
Condo Media - April 2017 - 48
Condo Media - April 2017 - 49
Condo Media - April 2017 - 50
Condo Media - April 2017 - 51
Condo Media - April 2017 - 52
Condo Media - April 2017 - 53
Condo Media - April 2017 - 54
Condo Media - April 2017 - 55
Condo Media - April 2017 - 56
Condo Media - April 2017 - 57
Condo Media - April 2017 - 58
Condo Media - April 2017 - 59
Condo Media - April 2017 - 60
Condo Media - April 2017 - 61
Condo Media - April 2017 - 62
Condo Media - April 2017 - 63
Condo Media - April 2017 - 64
Condo Media - April 2017 - Cover3
Condo Media - April 2017 - Cover4
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202308
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202305
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202303
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202302
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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
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201801
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201712
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201711
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201709
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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
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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
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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
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201309
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