If you live in a condo or a co-op, you most likely have heard the term fiduciary duty, usually in reference to the responsibilities and obligations of board members and management. But what is a fiduciary duty? In essence, it’s a legal rela…

By its very nature, life in a co-op or condominium community is different from living in a rental unit or a private home. While that statement may seem pretty obvious, many owners of co-op and condo units lack a clear understanding of what …

It’s a seller’s market, or so the NYC real estate pundits are telling us. But what does that actually mean?  Does it mean it’s easier to sell a home than it would be in a buyer’s market? Are units selling for more money, or more quickly? Do…

Back in the fall of 2019, the New York State Legislature passed a new and stringent law meant to protect and defend the rights of rental tenants. Because co-op boards technically fall under the legal umbrella of ‘landlord’, they were subjec…

The Cooperator Events Presents a Virtual Town Hall:   Penny-Wise But Pound Foolish - How to Prioritize Maintenance Projects & Reduce Risk. Sponsored by  Czarnowski & Beer LLP Thursday January 20, 2022 at 2:00 PM WATCH ON DEMAND The dea…

With all the pandemic-related restrictions being discussed in the media, it’s sometimes startling to realize how much renovation work is still going on in and around co-op and condominium apartments. It’s long been routine for co-op boards…

On January 5th, Governor Kathy Hochul addressed New Yorkers in the annual State of the State Address. According to attorneys Brett Gottleib and Mitchell Korbey of the law firm Herrick Feinstein LLP, “While [Hochul’s] speech was silent with …

On December 22, 2021, Governor Hochul finally signed into law the amendment which exempts cooperatives from many of the onerous provisions of the Housing Stability and Tenant Protection Act (HSTPA) of 2019.  Under the HSTPA, late fees impos…

Q. I sit on the board of directors of a Nassau County cooperative. The building has a no-pets policy that residents are obliged to comply with. A few residents have cats that were grandfathered in prior to rules changing. On occasion, we’…

Remember in 2020, when everyone was so excited for 2021, “when all of this instability and uncertainty will be over”? Right. Well, while there was some relief from pandemic pandemonium as Americans started to get vaccinated against COVID th…