Law & Legislation Mitchell-Lama Co-ops
2015 October Mitchell-Lama Co-ops

In 1955, when many city neighborhoods were deteriorating and the flight to the suburbs was going full blast, the Mitchell-Lama bill, named after state Sen. McNeil Mitchell and Assemblyman Alfred Lama, was signed into law in New York State. …

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Maintenance Making Minor Repairs
2015 October Making Minor Repairs

Every year, like clockwork, Wayne Bellet, owner of Bellet Construction in Manhattan, says that he gets multiple requests for his company to scrape, prime and paint metal fire escapes. “It’s silly, because it’s so easy to do, and building m…

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Finance Planning for the Future
2015 October Planning for the Future

The experience of condo and co-op board members can often feel like a juggling act. There are varied interests in the community that want different things. There's legal counsel, financial advisers, and managers who try to offer the best pr…

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Management What’s My Line?
2015 October What’s My Line?

Generally, board directors in condos and HOAs are volunteers who live in the building and want to assist in protecting their investment. Often, however, new board members enter positions without knowing the full scope of expected responsibi…

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Finance Forensic Accounting
2015 October Forensic Accounting

Recently, have you noticed that your managing agent has exchanged his old Toyota for a new Mercedes? Has he installed a new addition to his house? Has he appeared erratic...and returning from jaunts to Atlantic City all the time? If so, it …

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Board Operations Good Boards Make Strong Communities
2015 October Good Boards Make Strong Communities

Accepting a board position for a homeowners association is no easy task- you can please some of the residents some of the time, but rarely if ever can you please everyone. For board members, serving the community they live in may seem like …

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Board Operations Noise Rules
2015 October Noise Rules

When you live in a multifamily building, however, peace and quiet can be hard to come by. From the guy upstairs who gargles loudly at precisely 6:47 a.m. every morning to the neighbor with the yapping Chihuahua—at some point the soundtrack …

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Board Operations Going by the Book
2015 October Going by the Book

It happens in business, government, and industry every day: employees learn the rules of a new job, and before long they know those rules so well, they start going around them or taking short cuts. Rarely is this done with malicious intent.…

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Board Operations Upholding Your Fiduciary Duty
2015 October Upholding Your Fiduciary Duty

Being on the board of a co-op or condo is a big responsibility—one that shouldn’t be taken lightly. While some people may run for a board seat just to have the title, they need to be prepared to govern fairly and make decisions that are in …

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Q&A Q&A: Are roommates in rentals illegal?
2015 September Q&A: Are roommates in rentals illegal?

Q  I received a letter, dated May 4, 2015, stating that I have an illegal tenant occupying my unit.  It stated that all unit owners must inform management about any tenants and provide proper paperwork, including names, phone numbers, and …

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