T he Cooperator’s readers follow the news. Therefore, I need not say too much about the fact that despite petroleum quotas by the Saudis and President Clinton’s attempt to build up a heating oil reserve for our region, the predictions say t…
The phrases have grown familiar to all of us. Global warming. Ozone depletion. Greenhouse effect. As recycling, composting and other eco-friendly activities become more common, the time seems right to start asking what else can be done to k…
It seems as if many of us have been here before. In the late 1970s and early ‘80s, fuel prices escalated faster than any professional forecasters in the field thought were imaginable, with heating oil soaring faster than gas, electricity, o…
With electric de-regulation well underway in New York City, increased focus is shifting toward how well the competitive system is serving customers. The phased-in process, which began in 1998, has gradually allowed customers to get their el…
One might assume that the insurance policies carried by a building would cover any mishaps that would affect residents. This, however, is a misconception. A co-op corporation or condo association takes responsibility for the structural aspe…
New York City is currently enjoying a period of prosperity and low crime rates. However, no matter how safe a building appears to be, it is important that the board doesn’t relax building security. If a building isn’t adequately secured, it…
Insurance is always a "hot-button" topic among co-op corporations and condo association boards. Since insurance is an annual expense that is not mandated by a union contract or a city tax assessment, many boards regularly "shop" their cover…
Whether you’re a co-op or condo owner or on your building’s board, you are considered a primary user of the property’s financial statements. As such, you should definitely make it a point to understand what you’re looking at–to not only be …
Many expenses, small and large, are involved in the process of managing a residential building. A majority of these are unavoidable, such as mortgage payments in the case of a co-op, utility costs and payroll; however, when large sums of…
All healthy co-ops or condos possess healthy bank accounts. One way to make sure that financial glow stays bright is to infuse it with extra income, above and beyond the usual monthly fees and payments. There are a number of options for bri…