Paradigm Partners provides full service management including financial, maintenance and administrative functions. We also offer financial-only services to a number of communities. At the properties we currently manage, or have managed, Paradigm always enhances the association through one or more of the following hallmarks:
Through Dick’s construction expertise and experience, Paradigm has assisted many owners in decision-making, selection of contractors and oversight of capital repairs. These have ranged in scope from several thousand dollars to over $11,000,000.
Taking advantage of any and all energy saving programs and equipment is the norm at Paradigm. Adam and Dick have assisted several clients in converting from oil to natural gas fired heating systems. Working with public and local utilities through their energy efficiency incentives, Adam has has successfully outfitted many buildings with lighting and energy efficiency upgrades. In most cases Paradigm has realized significant savings for our clients. Dick is particularly adept in purchasing natural gas and electricity from the private market. Paradigm has saved several owners significant dollars by locking in prices for a number of years. Paradigm is currently exploring co-generation with one of its clients.
Transition from Developer to Unit Owner Control
We have assisted many condominium associations in making a successful transition from developer to unit owner control. While a number of these have been contentious, we worked with the new Trustees in the process of weighing the merits of trying to recoup funds from the developer or in making physical repairs.
Insurance Coverage & Premiums
Insurance is perhaps the least understood aspect of managing a condominium. One of the first items that Paradigm examines when assuming management is to ensure that the insurance carried is consistent with the By-Laws. We have found associations that did not have Directors & Officers coverage or whose policies were written on a “bare walls” basis rather than on an “all-in” basis as required in the By-Laws. All too often, we have also discovered that the real property limit is based on market value rather than replacement cost. Through adjustments in these areas, we have seen premiums reduced.
Obtaining Additional Funds
When owners are facing necessary but expensive repairs and have insufficient reserves, Paradigm has assisted many in obtaining bank loans or lines of credit.