Keeping an eye on the future of CRE interests - by Christian Stallkamp

As we head into March it’s amazing to think that winter is almost over and spring is around the corner. It’s also amazing that I’ve only fired up the snow blower a handful of times this winter. As a skier I had expectations of soft turns and blue bird days but instead got ice, rain and warm temperatures. Just like in commercial real estate you never know what the next day/week/month will bring. Yes, it feels like more emails and more phone calls for every deal but whenever I engage on a deal with a client there will always be speedbumps and you’ve got to adjust. We adjust to keep the deal moving forward and if not the deal will take inevitable death spiral.

As an organization we also need to adjust and keep an eye on the future of commercial real estate interests. It’s great to meet every month and connect with other brokers and affiliates to hear what they are also seeing. When we see a trend that appears negative to our industry we can be that much quicker to react. Some current issues/concerns from the board are PFAS and length of time a deal can get stuck if an appeal is brought to the Superior Court.

Here is a line up of some bills that we are keeping an eye on. For details or additional questions themselves contact Bob Quinn, VP government affairs, NHAR at (603) 225-5549.

Condo dispute board heads to the Senate. House Bill 308 would create a new board to hear disputes between condo owners and its association board. The bill has passed the House and will likely be taken up in the Senate next month. The Condominium Dispute Resolution Board would hear and determine matters involving condominium unit owner complaints related to: Failure by the condominium association to follow its declaration and bylaws; failure to follow proper voting procedures; and other actions not in compliance with condominium instruments or the Condominium Act. RSA 356-B. Any matters relating to time share interests would not be under the jurisdiction of the board.

The nine member board would be made up of members of the House of Representatives, condo owners as well as condo association board members, management companies and an attorney. The fee for filing a complaint would be $250, and any decision would have the force of law if neither party makes an appeal to the Superior Court. The board would not be bound by common law or statutory rules of evidence but would be permitted to admit all testimony.

It appears that the intent is to make this new board self-funding through the $250 fee.

If you have any questions at all or if you would like to consider joining a committee, please reach out and I would be happy to discuss

In addition, if you are new to NHCIBOR and commercial real estate we are looking for one more spot to fill at our leadership symposium to be held Wednesday evening April 1^st through Friday afternoon April 3^rd. The symposium is being held at the White Mountain Hotel & Resort in North Conway. Lodging and meals are paid for. To be considered you must be able to attend the event from start to finish. Contact me or the NHCIBOR office if you would like to attend.

Christian Stallkamp is a senior broker with The Boulos Co., Portsmouth, N.H. and is the 2020 president of the N.H Commercial Investment Board of Realtors, Bedford, N.H.