Board members and building managers have a lot on their plates—maintenance issues, resident complaints, construction projects, and the hundred little tasks that make up the administration and upkeep of a multifamily residential building…
Owning and managing real estate has many positives and negatives, requiring the performance of varied responsibilities and wearing of many different hats. Most of my clients typically view the insurance renewal process with a sense of …
Sometimes, just getting two people to agree on what to have for dinner or what movie to see on a Saturday night can seem like an overwhelming task. Now imagine trying to get five, seven or nine people to make million-dollar decisions t…
Holding regular meetings is one of the most essential tasks of a co-op or condo board, because that’s where the building’s policy is formed, where business decisions related to the community are made and usually where administration of …
Co-op and condo board members are generally volunteers who live in their building and give of their time and expertise to help make sure their home is well-run, and their investment protected. In a perfect world, new board members are a…
For any co-op or condo in New York, there are certain types of insurance that they cannot live without. Generally those include: property, liability, umbrella, D&O (with employment practices liability (EPL) insurance embedded in the co…
Recently, a 36-year-old New York City restoration contractor was charged with multiple counts of workers’ compensation fraud and falsifying business records. He was hired as a sub-contractor, but he allegedly submitted three fraudulent …
Mold—it’s an ugly four-letter word in more ways than one. Nobody wants to think about the fact that this fungus can be found anywhere where water leaks or drainage problems are present. Mold can cause serious damage to a co-op or condom…
For the majority of co-op or condo owners, their apartment is their largest asset. That apartment should be viewed as an investment and one that makes fiscal sense. But that approach is impossible if unit owners are missing important p…
Given recent headlines, cooperative and condominium associations could be forgiven for thinking they need to put an armed guard and razor wire around the petty cash box. A wave of fraud appears to be hitting properties from New York to…