Category: Building Operations

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…

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,…

Board approval has been part and parcel of buying into an NYC co-op since the housing model was introduced to the city in the late 1800s. Boards can demand troves of personal information from buyers and can approve or deny a purchase for ju…

The past few years have seen a dramatic swing from the red-hot market for condos and co-ops nationwide to the more challenging conditions markets around the country are experiencing today. Some of the underlying factors for this shift are b…

Among the many factors necessary for multifamily residential buildings to achieve financial stability, proper budget planning, compliance, and trust among shareholders, effective fee management is one of the most important. Understanding th…

The first day of work can be intimidating; there are new coworkers, new tasks, new routines, and lots of new names and faces to remember. Whether the new hire in question is a super, porter, custodian, or other on-site staff member, that ac…

The right property management team can make or break a building. While basic day-to-day maintenance and financial oversight often take priority when managing a multifamily property, comprehensive property management also includes building s…

As property values continue to outpace inflation, property taxes are taking a bigger bite out of homeowners’ wallets. A new analysis from consulting firm Construction Coverage breaks down property tax rates by state, county, and city to…

Local Law 157 was passed to prevent tragedies like the 2014 East Harlem and 2015 East Village gas explosions. By requiring the installation of natural gas detectors in all residential units with gas appliances by May 1, 2025, the law intend…