The Chen Agency

The Chen Agency

The Record

Condo board chiefs often make hard choices

By: BY JENNIFER V. HUGHES

magine that you have a job that requires you to be an expert in everything from finance to construction and that trying to do your best at this job makes your closest neighbors hate you. Now imagine that you do this for free. That's the life of a condominium board president. Living in a condo has its benefits. Residents don't have to worry about shoveling snow, keeping up the grounds or getting on the roof to fix a leak. But they do have to live in close proximity to their neighbors, and because of that closeness, there often has to be agreement on things as mundane as what type of decorations can be hung on a door to things as complicated as what capital projects to tackle next. To help govern the community, most condos have boards made up of residents to hire contractors and regular employees; to balance the budget; to deal with homeowners in maintenance arrears; and to manage long-range planning and dozens of other issues that come with any kind of home ownership. Ask those who serve on North Jersey's condo boards about why they do it, what they do and what problems they've faced, and you'll get an earful. Here is what some had to say:Joel Bacher says the key quality to being a good condo board president is an ability to get along with other people. "You have to keep in mind that you're not there to put impediments in front of homeowners. You're there to help them accomplish what they want to accomplish," said Bacher who has served on the board of the 83-unit condo for about five years. Bacher said it's also key to have a good team on the board, citing hard work done by the other board members. "One man cannot do it all alone," he said. "Steven Barnett is the treasurer, and he is a CPA and has fantastic budgeting skills. Mark Whitmore is one of the original homeowners, and that means he brings that historical knowledge to the board." One of the biggest issues Bacher said they have faced was to ensure that the condo's reserve fund had enough cash. A few years ago, the board realized the reserves were not adequately funded to meet needs 10, 15, 20 years into the future. Even though there was not a project that needed work immediately, the board voted to raise maintenance fees about $50 a month. "There was a lot of debate, and it was a hard sell," he said. "We got what we felt was the proper balance. We had a number of options. If we had doubled monthly maintenance, we could have been fully funded faster, but we felt that this was a good compromise." Bacher said he's fortunate he has the time and ability to serve on the board. He is a lawyer with his own firm situated near Radcliff Village, so he can handle condo issues in the daytime. "It's a great thing because you learn so much," he said. "It's really opened my eyes to all the things that go on with running a community like this. I feel very lucky that I am able to contribute, and do what I can." Joseph Genco became involved with the board at his condo because volunteering for the community is gently expected, he said. Part of that is because the 72-unit condo is what is known as self-managed. Most condos have a company that handles billing; payroll; finding and managing contractors; among other duties. With a self-managed building, those chores are performed by residents alone. Brookside also is an age-restricted building for those 55 and older — a designation that Genco said can lead to issues that regular condos don't face. For example, many residents have a harder time understanding the need for long-range planning.