Category: Building Operations

Insurance On the Rise, or Holding Steady?
2008 Aug On the Rise, or Holding Steady?

Just like in our own personal budget, it seems that the everyday expenses of a co-op or condominium building just keep going up. Among the most prevalent cost hikes, as readers surely know, are fuel, salaries, repairs and the price of ma…

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Insurance A Look at Workers' Compensation
2008 Aug A Look at Workers' Compensation

Workers’ compensation, according to the New York State Workers’ Compensation Board, is insurance that provides cash benefits and/or medical care for workers who are injured or become ill as a direct result of their job. Employers—an…

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Finance Money Makes the Board Go Round
2008 July Money Makes the Board Go Round

They don’t call it “the bottom line” for nothing. When all is said and done, pretty much everything in business (okay, pretty much everything, period) comes down to money. In most business situations, a chief executive officer or a compa…

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Finance Ordering Supplies for Your Building
2008 July Ordering Supplies for Your Building

Along with big-ticket items like boilers, HVAC systems, and the like, residential buildings also have to purchase lots of little, everyday things like cleaning supplies, light bulbs, and paper products to keep up with day-to-day maintena…

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Finance Who Makes the Cut
2008 July Who Makes the Cut

When the author of this story bought her home, she sat in disbelief when the lawyers handed her the last paper to sign—the one that confirmed she signed all the other papers! The confusion wasn’t surprising; the home-buying process …

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Finance Dealing with Special Assessments
2008 July Dealing with Special Assessments

Boston, Massachusetts may seem worlds away from New York City, but the story of one embattled condo building there represents a dire cautionary tale for boards and managers everywhere. A couple of years ago, the residents of Boston’s H…

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Finance Foreclosure Epidemic Skips Big Apple...So Far
2008 July Foreclosure Epidemic Skips Big Apple...So Far

Whether you own your own home or not, you can’t help but know about the subprime mortgage crisis that is sweeping across America as foreclosures are claiming people’s homes everywhere we look. Well, almost everywhere. Even in light …

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Finance The Right of First Refusal
2008 July The Right of First Refusal

Co-op boards are notorious for scrutinizing potential shareholders. Condos, on the other hand, are often thought of as more lenient—and thus more desirable—by buyers because condo boards lack the power to probe too deeply into a buyer’s per…

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Finance New Options for Co-ops
2008 July New Options for Co-ops

As many readers are by now aware, a rule that proved a hindrance to the operations of many co-ops in New York was drastically altered in December of last year--and the changes are having far-reaching effects on the city's co-op communities.…

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Finance Taking a Bite out of the Big Apple
2008 July Taking a Bite out of the Big Apple

In most cities, traditionally, the choicest pieces of real estate are owned by native sons and daughters, people who are from the area. Money comes in from everywhere, but the entrepreneurs making that money are homegrown. Heinz and Carn…

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