The new millennium has taken the real estate industry for a pretty wild ride. Nothing but up, up and away have gone prices, with inventory availability down to a severe low, keeping it interesting. Yet real estate is a still hot commodity…a…
Remember the adage that 80 percent of the work is done by 20 percent of the people? The same appears to be true of boards throughout the city. In many cases, board members–and even certain shareholders–feel that being on a board is puni…
Kings Village Corp. had mounting financial challenges. At the start of 1999, this housing co-op, one of the largest in Brooklyn, had more than half of its 777 apartments unsold. And of those, 75 were vacant. In fact, for five years, there h…
"It’s probably the last remaining profession to make house calls!" says Eugene Marabello, president of The Superintendent’s Club of New York, an organization dedicated to filling a gap in the knowledge base of multi-family building maintena…
Your home is your haven, your sanctuary, the one place where you can feel comfortable, safe, and secure. At least, that’s what a home should be. But according to the National Safety Council, no fewer than 15 household accidents resulting in…
Your roof terrace leaked and the neighbor below you sued for damages. Do you have any recourse? The heating system in your apartment failed to work and the managing agent sent you the bill for its repair. Do you have to pay? You bought a do…
To self manage or not to self manage? It’s akin, in some respects, to the half-century old question of manual versus automatic transmission. Sure, the automatic is easier to drive, but the manual provides more control. And sometimes a co-op…
Board meetings provide the time and space for co-op and condo leaders to establish and direct building operations. "Every board has its own distinct group personality," observes Howard Schechter, a partner in the Manhattan law firm of Schec…
Much has been written recently about the management industry indictments, the role of the managing agent and how to monitor management. Little has been said, however, about what it takes to make a board/manager relationship work. The managi…
Much has been written recently about the management industry indictments, the role of the managing agent and how to monitor management. Little has been said, however, about what it takes to make a board/manager relationship work. The mana…