While co-op boards have an enormous amount of influence over who is - and is not - allowed to purchase shares and call their building home, condo boards have far less power in that regard. While co-op boards can (and usually do) reject bu…
Q. Our Nassau County co-op was converted in the 1980s. The current property manager owned and managed the property as a rental property pre-conversion. The firm still manages the property. Recently, two apartments we had for a resident su…
Serving on the board of directors of a co-op, condo, or HOA can be a daunting undertaking, but there are numerous resources available to get new members up to speed and to inform seasoned members of the latest products, services, laws, and …
The topic of insurance can provoke fear in the most steadfast of board members. It’s both terrifying in what its purpose implies, and yet at the same time mind-numbingly boring. It’s also one of the most important components in protecting o…
When the average American taxpayer (or tax-dodger, one supposes) hears the word “audit,” they’re likely struck with a feeling somewhere between annoyance and terror—usually because being audited means that something has been found amiss in …
Cash flow is the lifeblood of any multifamily residential community, be it a rental building, condo, co-op, or HOA. However, because the latter three are nonprofit entities, maintaining consistent cash flow is even more critical to their he…
The NYC Department of Finance Office of the NYC Comptroller recently released a report detailing options for the city to secure new sources of funding for services. Among these are two that seek to achieve more equitable taxation of real pr…
Conventional wisdom in the New York real estate world holds that certain types of buyers prefer condominiums over co-ops. They include foreign buyers, those seeking pieds-a-terre, and those unthrilled with the extensive financial and person…
While occasional annoyances and interpersonal friction are simply part of the cost of communal living, some behaviors cross the line from minor nuisance into legitimate harassment. Knowing the difference is important—but it can be tricky to…
With limited space, neighbors on all sides, and no back (or front) yards, apartment living has always been about the amenities. The newest must-have? Quiet rooms. A direct outgrowth of pandemic-related limitations and peoples’ desperate ne…