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Over the past several years, liability and excess liability insurance carriers have been exiting the New York marketplace. This trend has led to fewer options for securing proper coverage, and higher premiums for obtaining sufficient covera…
What is the role of a board president in a shared-interest community? Is he or she more like a CEO, an administrative custodian, or a figurehead? Depending on the community and the needs and expectations of its members, the answer could be …
As we enter the final quarter of 2024, the first Local Law 97 (LL97) submission period is quickly approaching for New York’s co-ops and condos, with the first annual emissions reports due in May of 2025. Under LL97, owners of buildings over…
Property owners and managers are no strangers to wearing many hats, but developing a plan for energy reduction and electrification could be unfamiliar territory to even seasoned residential pros. When time and resources are scarce, making…
Having a commercial space on the ground floor of your co-op building can be both a blessing and a curse. On the blessing side, the income generated by such a space can provide much-needed income for a residential cooperative, reducing sha…
Just as a ship cannot steer without its captain, a board cannot function effectively without its president. Serving as the administrative head, this volunteer position is vital for ensuring the smooth operation of a condo, co-op, or HOA boa…
A community’s governing documents, including its bylaws and house rules, are like a country’s constitution and laws. They are—or at least they should be—‘living’ documents that like our state and national laws and constitution, occasionally…
The presence of commercial space in a shared interest building can be a blessing for the community - and it can also be a burden. It can bring in much needed additional income to help defray the cost of running the building - but at the sam…
Benjamin Franklin famously said, “Nothing in this world is certain except death and taxes.” In the world of co-ops and condos, this truth is amplified. Along with the obvious impact on the deceased’s family and associates, the passing can a…
Multifamily buildings—both new and existing—face barriers to decarbonization amid competing demands and growing pressure from legislation, residents, and tenants. But there are opportunities to build value today, namely energy efficiency an…