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…
emember when all your garbage was discarded into the refuse container, never to be seen again? The age of environmental awareness has not only forced the development of new ways to recycle refuse, but also new ways to dispose of it. Adapt…
Forget the dark, dingy room with uncomfortable chairs and crummy machines. Never mind running down to the laundry room with an armload of clothes to find that all the machines are in use. Those days are over. Imagine a laundry room that i…
One of the most important pieces of insurance coverage a co-op or condo building carries is its directors and officers (D & O) policy. This coverage protects the personal assets of board members from exposure in the event a lawsuit is fil…
At the Real Estate Board of New York's first residential convention last month, there was a sense of elation in the air. Not only was REBNY celebrating its 100th anniversary and the success of its new trade show, but there was a new sense…
Everyone agrees that a building's exterior and lobby make a lasting first impression. But have you ever noticed how many signs you pass between the curb and the apartment you are visiting? As we breeze through on our way upstairs, we barely…
This is the time of year when many boards are engaged in the budget and planning process. Unfortunately, this process sometimes results in the unhappy realization that the cooperative does not have enough sources to cover all of its proj…
It's Friday night and you've just arrived home from a long week at work. Picking up your mail, you head upstairs in anticipation of a cold drink and a hot bath. But when you enter the bathroom, you find a quarter inch of water covering the …