Many people believe in the ethos of 'reduce, reuse, and recycle'—they buy vintage clothing, pre-owned cars, or refurbished electronic equipment. But most of us also like brand new things, including homes. And with markets across the countr…
After the devastating winter the New York metro area just experienced, summer couldn’t come soon enough for many of Gotham’s co-op and condo residents. But don’t be surprised when people start forgetting about the cold and start complainin…
Because of resident turnover, the city’s practice of requiring real estate developers to devote a certain percentage of units in new buildings to market- or below-market rate in order to fortify the city's stock of more affordable housing,…
One of the biggest problems that can cause the downfall of any co-op or condo is a lack of funds, or more specifically, not enough money to keep operations running smoothly and to make the necessary repairs to keep everything up to par. …
As the 2012 federal legislative fiasco over the debt ceiling—as well as any number of other spending bills proposed since then—demonstrated, balancing a budget can be like pulling teeth. Balancing a condo or HOA community's budget can some…
Preparing the annual budget is by no means an easy task. Those charged with preparing cooperative, condominium or HOA budgets will soon begin reviewing costs, gathering data and projecting expenses for the coming year. Communities, busines…
“If I want to buy a co-op do I have a right to see the board meeting minutes so that I might see if any major repairs have been recently completed on the building or are scheduled to begin.” —Buyer Beware “The simple answer is NO!”…
Q “I have requested to see financial statements, general detail ledger reports and the current cooperative budget. The board and its attorney claim that I have no right to see these documents. Are they correct?” —Fiscally Concerned …
In an apparent case of first impression, on February 25, 2014, Justice Anil C. Singh of the New York Supreme Court ruled in favor of the plaintiff—The South Tower Residential Board of Managers of Time Warner Center Condominium—holding that…
Regardless of region or market, a mélange of personalities, preferences and expectations comprise any homeowners association. Part of that diversity includes folks who may need special accommodations in order to fully enjoy and participate…