Theft of condo association funds does happen

Robert Ducharme
 |  Portsmouth Herald

“Earth provides enough to satisfy every man’s needs, but not every man’s greed.” –Mahatma Gandhi

Very few associations suffer the devastating effect of having someone (e.g. a board member, officer or a manager) steal the association’s money. But it happens.

One property manager in New Hampshire was sentenced to 18 months in federal prison and ordered to pay back over $900,000 stolen from 27 condo associations she was managing. A little closer to the seacoast, one property manager in Exeter was convicted of stealing over $67,000. And it’s worse than it reads because most associations don’t report the matter to the police for fear of the fallout. If your association makes the internet because you were not watching your money, the publicity may very well make it hard to sell units in the association, and certainly dampen the value as compared to units in other

Read More

What Will Happen To Commercial Real Estate As More People Work From Home? : NPR

The coronavirus pandemic forced many people to work from home. NPR looks into what remote work from home could mean for commercial real estate.


People are going out less and working from home more because of the coronavirus pandemic. But what will happen to all the office buildings and retail space that depend on people leaving their homes and going to work? Stacey Vanek Smith and Cardiff Garcia from our daily economics podcast The Indicator From Planet Money look into what working from home could mean for commercial real estate.


CARDIFF GARCIA: Steve Rappaport has been in the commercial real estate business in Manhattan for 15 years. And he says it is not for the faint of heart.

STACEY VANEK SMITH: You have to hustle for everything.

STEVE RAPPAPORT: Yep, so no deals, no commission.

VANEK SMITH: And, of course, it’s not

Read More