An elderly retired couple, married for 40 years, recently sold their ten-room suburban home for a simpler three-room Manhattan condominium. They lead an active social life, often entertain their three children and five grandchildren for…
It's a typical scenario. The board and managing agent assemble for the regular monthly meeting. Things get lively and everyone participates. The group discusses staff issues, makes decisions about the tile color in the laundry room and dire…
This truth may not be self-evident, but in a co-op all shareholders are not created equal. Virtually every Offering Plan provides for a special class of shareholderscalled Holders of Unsold Shareswho are routinely granted privileges not e…
roperty management is a challenging field that appeals to quick- thinking, high energy individuals. Besides excellent number crunching skills, a good property manager must also demonstrate a keen knowledge of crisis intervention, not to m…
Who wouldn't love the opportunity to stay at home instead of schlepping into work every morning? Today, more and more people are given the opportunity to avoid the trek into the office and work at home. With babyboomers wanting to stay ho…
When you open your closet doors, are your clothes hung so haphazardously that you can't find your bright blue shirt? Does the pile of sweaters on the top shelf topple over when you pull one out? Are your shoes so scrambled on the floor th…
You don't have to be a gourmet cook to appreciate the value of a well-designed kitchen. Even if you and your loved ones subsist on take-out food and microwave dinners, the kitchen is still one of the most heavily used rooms in your co-op …
The financing of your co-op's underlying mortgage is one of the most significant factors in the fiscal integrity of your building. The size of the mortgage and corresponding monthly payments have a significant impact on the value of each …
In 1991, the American Institute of Certified Public Accountants (AICPA) issued its Guide to Audits of Common Interest Realty Associations, more commonly referred to as the CIRA Guidelines. Much controversy followed this event as professio…
In 1991, the American Institute of Certified Public Accountants (AICPA) issued its Guide to Audits of Common Interest Realty Associations, more commonly referred to as the CIRA Guidelines. Much controversy followed this event as professio…