Not everybody on a co-op or condo's board is an accountant (or can even balance their own checkbook, for that matter.) Handling the money for an entire building is a big responsibility, however, and residents rely upon their board to ma…
Tighter lending requirements for Federal Housing Administration (FHA)-backed mortgages for condos have put financial and administrative pressure on condos all over the country at a time when many are ill prepared for any new challenges…
Almost everyone is under pressure these days to save money however they can—and co-op and condo buildings are no exception. Even those associations who are financially solvent and have money socked away for a rainy-day capital improveme…
Q A front desk position in my building is about to become available. Our board wants to hire the son of our current janitor. I am not in favor of hiring relatives and our bylaws state that in such an instance, the board must noti…
Q I’ve had a long existing leak in my full bathroom since the shareholders above me moved in. It so happens that the shareholders’ son runs a bath for as long as two hours at a time, blasting the water at full force. Over time this h…
Q I am a non-resident owner in a 10-unit co-op in Manhattan. I have been renting out my unit for the past 7 years. Recently, while I was away from the country on work, my son inadvertently rented my apartment to a tenant without firs…
Charging Fee For Lockers Q What happens if there were storage lockers in our building that were either given free to the shareholders or they were ‘sold’ for a set fee of $500? Once a shareholder left, the storage unit reverted b…
All for one and one for all. We always knew that buying a unit in a condominium project meant that the value of our property depended in good part on the likeminded conscientiousness of our neighbors. Where owners live, vote and fund th…
Mayor Michael R. Bloomberg presented a Fiscal Year (FY) 2011 Executive Budget and an updated four-year financial plan for New York City that calls for $62.9 billion in spending. While the mayor’s attempt to balance the city’s budget res…
For people interested in historic architecture and a family-friendly atmosphere, the neighborhood commonly called Carnegie Hill is one of the most desired locales in Manhattan. Carnegie Hill effectively forms a village within …