Page 3 - CooperatorNews NY July 2022

COOPERATORNEWS.COM COOPERATORNEWS — JULY 2022 3 TABLE OF CONTENTS Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Managing Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Alan J. Sidransky Staff Writer CooperatorNews is published monthly by Yale Robbins Infomedia, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner associations. POSTMASTER: Send address changes to CooperatorNews, 205 Lexington Ave., New York, NY 10016. Yale Robbins Infomedia 2022. All rights reserved. Application to mail Periodicals postage rates is pending at New York NY. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: cooperatornews.com/subscribe Peter Chase Director of Sales Fred Marks Director of Sales Inflation, the Supply Chain, & Your Monthly Charges.... 1 For the first time in decades, serious inflation has reared its ugly head. Costs for nearly everything—including the goods and services needed to operate and maintain multifam- or wrong done to us, real or perceived. This tendency is unfortunately common in the ily properties—are up an average of 10 percent. Some sectors, particularly energy, are up nation’s co-ops, condos, and HOAs, where the ideals of communal living and shared nearly 20 percent. Co-op corporations and condominium associations are in the same boat as individual households, just at a larger scale. Everything is suddenly more expen- sive. The question is, how to pay for it? The Year in Co-op, Condo, & HOA Law.... 1 Even though 2022 started off with a backlog of court proceedings and legislative sessions after months of COVID closures and related scheduling issues, a number of cases and bills of interest to the multifamily housing community have gone through or are in the process of being decided. Here are some that boards, managers, owners, and residents should follow. The Impact of Litigation in Co-ops & Condos.... 1 Americans are a particularly litigious lot, believing as many of us do that we are endowed with the inalienable right to life, liberty…and the pursuit of recompense for any slight ownership sometimes get overshadowed by grievance and strife. Pulse..................... 4 Q&A..................... 5 From the Web................ 6 Service Directory.......... 14 5 m The Quality of Management Matters With footprints spanning every corner of Manhattan as well as Brooklyn & Queens, Halstead proudly manages nearly 200 Buildings with our dedicated, professional support team. Hi, I’m Leslie Winkler . I have over 45 years in high-level property management experience that includes rentals, luxury condominiums, cooperatives, and new construction. Backed by some of the most experienced and well-rounded professionals in the industry, we work to maximize your living and investment experience. Give me a call at 646-485-6138 to learn more about Halstead Management. 24/7 Emergency answering service High-end building staff training resources Volume pricing and contract consulting Advanced accounting software