Q. My co-op has $570,000 in reserve funds invested in CDs earning approximately 0.5% interest. My question is this—are we being too cautious given that the rate of inflation is about 2.7%? How can we get a better rate of return or is this…

Q. This is a very common age-old question in a cooperative. What are my rights for inheriting a co-op apartment if the unit owner unfortunately dies? If a unit owner is deceased and the property is turned over to the estate, what are righ…

Q. We are a cooperative that falls under the purview of the New York State Business Corporation Law. Is there a law in there allowing us to conduct a meeting without a quorum having been reached? We need more than 50% of the vote and cert…

When it comes to reducing energy costs in most buildings, the space heating system garners the lion’s share of attention. The performance of the hot water system is rarely considered until there is a complaint. And yet, water heating accoun…

Some buildings have lush reserve funds and the most pressing challenge in building maintenance involves new balustrades or landmark accents.  But for most co-op and condo managers in New York, building maintenance is less predictable. It q…

Owners of co-ops and condos in New York are apt to find that the neighbors down the hall live according to a different set of rules and often pay less then they do for the same apartment.  Thanks to the state law in effect when most cooper…

As long as there have been residential buildings, there have been superintendents charged with the all-important task of ensuring that operations run smoothly. Whether it’s an underperforming HVAC system, a maintenance emergency, or simply …

We all hope for good neighbors when we move into a new building or community. The same is true for commercial properties in residential buildings. Making a good match, one that benefits both the commercial tenants and unit owners, can go a …

Northeasterners are a tough breed, but even they have to deal with dark days and nights—and they need an action plan in case of a blackout. This was evidenced by the blackout of 2003. In August of that year, a series of power failures overl…

New York City condo owner John Doe lost his job and couldn’t pay his bills. Eventually, the bank foreclosed on the mortgage to his condominium apartment, and Joe was forced to move. On his way out the door, the disgruntled Mr. Doe—who alway…