Condo Media - December 2018 - 51

the future, does the management assist
in finding or dealing with renters? Also,
the new FHA rules place restrictions on
buying into condominiums that have
restrictive policies against renters.
INSURANCE:
Buyers should always review the insurance policy limitations and cost to be
assured the replacement costs covered
will cover the property's rebuilding.
This includes covering new ordinances
or code upgrades. It is always a good
idea for the buyers to review their unit
insurance policy against the coverage
the association provides.
DELINQUENCIES:
The recent history of unit owners in
arrears on their assessments might
show signs of reserve under-funding or
owner discontent in the condo. FHA
loan policies are also paying a great
deal of attention to these statistics
within a condominium. All of this can
have a direct bearing on market value.

Representing Condominium Associations, Homeowner
Associations and Management Companies throughout
New Hampshire and Northern Massachusetts.
Providing representation in all areas of condominium
law from drafting and execution of condominium
instruments, amendments, collection of assessments to
litigation from trial through appeal.
For specific questions and to find out how we can
service your particular needs, please contact our office
and speak with one of our attorneys.

(603) 627-5997

45 Bay Street
Manchester, NH 03104

(603) 742-1052
3 Webb Place
Dover, NH 03820

(800) 828-3200

565 Turnpike Street
North Andover, MA 01845

www.fenigeranduliasz.com
Serving clients in all of NH and northern MA

MANAGEMENT:
A professional association manager can
make all the difference in the quality of
condo living. There are many condominiums that are efficiently self-managed but
they may be the exception. This is especially true for unit owners who live in the
complex part-time or are investors "from
away." Even with a professional association management company present, it is
a good idea to check out their reputation
with other owners or associations.
This list will probably not be seen on
the DIY channel but following these
10 simple steps could go a long way for
everyone involved in condo transactions
to make the process as orderly and painless as possible. As in all plans, waiting to
the last minute to implement changes or
performing due diligence is never a good
idea. What is rushed can be missed, and
what is missed can often not be undone.
n JACK CARR, P.E., RS, LEED-AP,

Specializing in Insurance
and Risk Management
Services for:
Condominiums
Community AssoCiAtions
HoA Communities
CooperAtives

For more information Contact
Thomas Shields | Producer
E: TShields@risk-strategies.com
P: 781-961-0314
Bernie Gitlin | Executive VP
E: Bgitlin@risk-strategies.com
P: 781-961-0330
A: 15 Pacella Park Drive, Suite 210,
Randolph, MA 02368

IS SENIOR VICE PRESIDENT WITH
CRITERIUM-ENGINEERS.

www.RiskStrategies.com

December 2018 CONDOMEDIA

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Condo Media - December 2018

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