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In a market economy, price and value are assumed to be mutually reflective. Investors expect that their assets - in our case real estate, and specifically co-op and condominium apartment units - not only maintain their value, but experienc…
Last summer, Governor Cuomo signed into law the Stop Hacks and Improve Electronic Data Security (SHIELD) Act, which requires all businesses and organizations in possession of electronic personal information about any resident of New York St…
Kickback schemes, bid mishandling, and the like are not always easy to identify—or to prove – because like any illicit activity, this type of fraud is perpetrated in secret. That's why it's imperative to build a few basic safeguards into…
Of all the duties - and challenges - a co-op or condo board has to keep track of, insurance likely doesn't rank among the most thrilling; but of course that's no excuse to remain in the dark about changes to coverage-related legislation. In…
The governing documents of a housing development—be it a cooperative, condominium, or homeowners association—spell out the rules, regulations, and policies that all unit owners or shareholders are obligated to follow as a condition of their…
Sometimes, the choice whether to file a claim with your insurer is clear-cut; sometimes it's not. In this clip, two industry pros give tips on when to file, and when to consider other options.
Living in a multifamily dwelling requires tolerance for other people, particularly when those people are noisy, smelly, or have questionable taste in door decorations. In New York, where the majority of people share a wall with at least one…
The benchmark for calculating capital gains on your unit is determining your cost basis in the unit. The cost basis for co-op and condominium units is calculated on the original purchase price of the shares or unit, plus capital improvement…
As much as a prudent, conscientious board may try to keep a lid on expenditures, sometimes shelling out is unavoidable. When it comes to legal costs though, 'shelling out' can often result in a bad case of sticker shock. In this clip, legal…
Professionals who work with co-op, condo, and HOA boards see a lot - and over the course of their careers, accumulate wisdom that client communities both current and future can benefit from. In this clip, a quartet of management pros discus…