The term ‘diversity’ encompasses an expansive range of demographics within a population, from ethnicity, age, gender and orientation, ability, religion, and socioeconomic status to culture, language, and personal lived experience. These fac…
Author and former presidential speechwriter James Humes once said, “The art of communication is the language of leadership.” In multifamily communities, transparent and open communication helps ensure smooth operations and leads to greater …
Amid rising mortgage rates and increased financial pressure on American households, one subset of homeowners stands out: those who have fully paid off their homes. A new study from consulting firm Construction Coverage examines mortgage p…
According to a recent press release, at 11 a.m. on Friday, January 17, dozens of residential industry leaders, builders, property owners, affordable housing advocates and policymakers will convene across the street from the Brooklyn federal…
Co-op boards once had near absolute power to reject applicants for purchase of shares for almost any reason. Over the years, the courts and New York City have narrowed that prerogative in an effort to curtail housing discrimination. Effecti…
Q. Can an election for the purpose of electing board members be held if there is not a quorum? —Need a Primer A. “In order to conduct any business at a shareholder’s meeting, there must be a …
Q. Why are co-op board minutes so sparse that others who read them—shareholders, lawyers, brokers—have no real idea what goes on at meetings? Our minutes are routinely ‘sanitized’ to leave out any troublesome issues, any comments by vario…
Q. “I live in a building with storage lockers for cooperators on the ground floor and one storage locker on each floor. All the lockers are closed, so the contents are not visible. The building porters inspect the rooms in which the locke…
Positive cash flow is the lifeblood of any multifamily residential community, be it a rental building, co-op, condo, or HOA. However, because the latter three are nonprofit entities, maintaining consistent cash flow is even more critical to…
While some co-op and condo communities have tried social media platforms like Facebook, Instagram, TikTok, or Twitter/X as ways to build community spirit and facilitate better communication between neighbors, management, and even the board,…