As Budgeting Season approaches for co-op and condo communities, it’s time for the boards of associations and corporations to consider how they will cover expenses and fund projects in the coming year and beyond. While recurring operating ex…
The Cooperator Events Presents a Virtual Town Hall: Budget or Lose It - Maintaining Optimal Cash Flow in Your Community Association. Sponsored by Axela Technologies WATCH ON DEMAND Raising assessments is never a popular move for a board t…
Aging is expensive—and that goes double for residential buildings. Exterior deterioration is inevitable, mechanical systems do not last forever, and everyday foot traffic and wear take their toll on even the sturdiest structures. For many c…
A common phrase heard in many board rooms is that the board is protected under the law by the “business judgment rule.” This legal doctrine provides a judicial deference to a board’s decision if that decision is made in good faith and with…
The art and science of apartment sales has always involved a calendar for the best and worst times of the year to buy or sell an apartment. Conventional wisdom has typically held that the holiday season, from just before Thanksgiving throug…
Q. I’ve been a board member for five years. I got elected as treasurer and we had a board president that’s been president for several years doing all the board’s duties and got reelected again. I was assuming that I was supposed to recov…
Q. Since 2003, I have been a resident/owner of a condo in Riverdale. Last year, I became aware of the building’s eligibility for the NYC condo tax abatement program. No other owners in the building knew anything of the program. Most owner…
Q. I have been a shareholder for close to 20 years in a building that went co-op in the late 80s and whose bylaws and governance are still dictated in most part by the original offering plan/proprietary lease that was standard issue at th…
This summer and early fall, several massive storms struck the United States in rapid succession. Hurricane Ida cut a huge swath of damage from the Louisiana coast to New England. Record flooding, tornadoes, and sustained high winds damaged …
New York Governor Kathy Hochul’s Labor Day signing of four pieces of new legislation protecting and supporting workers gave those laws a lot of visibility. (Readers of CooperatorNews can find a summary of two of those four pieces of legisla…