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Foreclosures, Unpaid Dues Strain Condo Boards
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¿ Use the Internet well. Set up an association Web site. Official notices can be sent via e-mail or put on the Web. You may have to amend your legal documents because they may require that notices be sent by U.S. mail. You can still send information through the mail to residents who don't have computers, but using the Internet to communicate with the rest can save handling time and postage money.
¿ Identify lawyers and accountants who live in your community. They can be asked to volunteer to assist with occasional legal and financial questions. It is important to have independent lawyers and accountants working for the association, but using in-house professionals for limited advice may reduce your expenses.
¿ Get two or three bids for all work done by outsiders. Many times, property managers have ongoing relationships with service providers and feel comfortable working with them. But any job -- especially if it costs more than $5,000 -- should be sent out for bids.
¿ Consider selling advertisements in your newsletter. Some associations bring in revenue from local businesses that want to reach residents. These ads should be reviewed by legal counsel.
¿ Weigh charges for services not used by everyone. For example, why not impose a modest fee for guest parking or swimming pool passes? Some associations charge a yearly fee to use the health club or the tennis court.
Benny L. Kass is a Washington lawyer. For a free copy of the booklet "A Guide to Settlement on Your New Home," send a self-addressed stamped envelope to Benny L. Kass, Suite 1100, 1050 17th St. NW, Washington, D.C. 20036. Readers may also send questions to him at that address or contact him through his Web site,http:/


