Most of the time, "communication" and "openness" are watchwords for boards and management. Clear, transparent communication between boards, managing agents, and shareholder/owners should be right up there with "location, location, location"…
Of all the members of a co-op building's board, the treasurer is in a unique position to uphold the fiduciary responsibility of the corporation, similar to that of a chief financial officer in the corporate world. Basically, "the tre…
Serving on a co-op board or condo association certainly has its advantages. Not only does the position give shareholders a chance to have more say in how their community is run, it helps add to their knowledge and understanding of what goe…
Even though subletting is often frowned upon by boards and sometimes forbidden outright, that doesn't stop shareholders all over the city from renting out their co-ops. Shareholders may sublet as a means of making money on an apartment tha…
With any sort of multifamily housing arrangement comes the possibility of a certain amount of conflict between the various involved parties: shareholders, board members, management, and sponsors. In theory, a key role of a board of directo…
To conserve power to help avoid a blackout, the power industry recommends: In heating season, set the furnace thermostat at 68 degrees or lower. In cooling season, set the thermostat at 78 degrees or higher. Most power is used …
Eligible co-op boards facing skyrocketing maintenance charges due to rising energy costs can seek assistance from the New York Energy Smart Assisted Multifamily Program (AMP), administered by the New York State Energy Research and Developm…
Lots of people talk about the stress and uncertainty of the approval process in New York City's co-op and condo buildings; all that scrutiny, all that paperwork! But the endless reams of forms and files take another toll as well - on the e…
In New York City, electricity is a lot like Chinese food. It's ubiquitous, available for delivery right to your home, and is made with lots and lots of oil. But unlike a good Chinese restaurant, Con Edison, the electricity provider for alm…
Every year, co-ops and condos in New York City pay millions of dollars in utility expenses, including electric, water/sewer, gas, and steam. Are you certain your building is paying the correct amount? What if it isn't? Without an expert au…