November 2024

GRATEFUL GAINS: Overcoming Obstacles with the Power of Teamwork By Laura Rivera, Denali Property Management, Inc. A high-rise community with over one hundred and twenty (120) units located in the heart of Hackensack, New Jersey, was experiencing a range of challenges. In fact, the community had long suffered from inadequate attention, evidenced by frequent staff changes, significant structural issues, a serious funding shortfall, and several other pressing problems. Working with the management company, the board, and their respective property manager they began by address ing these long-standing issues with a strategic approach, transforming an overwhelming list of problems into man ageable tasks and providing creative funding options. Within a short period, a comprehensive $5 million project was launched that aimed to resolve both the aesthetic and the structural concerns that had been plaguing the com munity. The management company and the board used a

combination of special assessments along with securing a capital improvement loan to minimize the financial burden on the unit owners. This spread the cost to the association over fifteen (15) years. One of the first major undertakings was the penthouse roof project. For years, water seepage through the roofing had caused internal damage to the penthouse units and beyond. The damage was both aesthetic and structural. The community tackled this issue by replacing the roof and implement ing waterproofing mea sures, effectively halting the water damage and restoring the building’s structural integrity. Next was the parking garage, which was in dire need of structural repairs and on the brink of disaster. What initially seemed like a formidable challenge was quickly brought under control thanks to team work. Both the property management team, the cap CONTINUES ON PAGE 36 “What initially seemed like a formidable challenge was quickly brought under control thanks to teamwork.”

CAI-NJ F.A.S.T. is once again adopting families this holiday season through Interfaith Neighbors in Monmouth County. We invite you to support by donating via the event page by clicking here or scanning the QR code. You can also visit the Snaps with Santa booth at the Winter Break Party to donate by credit card or cash. Let's make the holidays brighter together! Adopt A Family Help CAI-NJ F.A.S.T. Spread Some Holiday Cheer!

Thank you in advance for your generosity in helping us support this amazing organization and the families in our community who need our help!

Click Here on the Digital Version or Scan the QR Code for Details

35

NOVEMBER 2024