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Each year, boards are tasked with figuring out the costs associated with all aspects of their community’s operations, including any capital repairs or improvements they plan to undertake in the coming fiscal year, and then making sure the r…
Among the many realities made visible (or more visible) by the COVID-19 crisis is the domino theory: when one falls, the others follow. Conceived (and largely disproven) as a political metaphor, the notion has proven more useful when applie…
It’s a question we’re asked all the time: "Can we use reserves to cover an operating fund shortfall?" Under normal circumstances, our standard response would be an emphatic “No!” -- because reserves are for major repair and replacement proj…
As New York City continues to reopen, the Department of Buildings (DOB) has issued guidance and mandated protocols to promote safety and health on all job sites. After launching a citywide inspection sweep of every permitted site to verif…
The COVID-19 pandemic is a once-in-a-century event (at least we hope so!) that has changed the way we work, play and live our lives in general. For residents of co-ops, condos, and HOAs with shared amenities, or where many common areas are …
As mentioned by this outlet and elsewhere, the New York real estate industry—one of the main contributors to the annual financial tax intake of both the city and the state—has been championing tax relief for owners, landlords, and t…
On June 11, the Real Estate Board of New York (REBNY), 32BJ SEIU, and the Realty Advisory Board on Labor Relations, Inc., (RAB) issued comprehensive safety and health guidelines for market-rate residential buildings in NYC, including multif…
The Community Associations Institute (CAI) has compiled a digest of government action resources (including clickable links) to help multifamily communities navigate the process of reopening their amenities and common areas now that the fede…
According to Patch.com, New York City is facing a $9 billion deficit in the weeks leading up to its annual deadline to pass a city budget -- one that is sure to be compounded by projected shortfalls in property tax income. Property taxe…
While the majority of apartment dwellers are by nature accustomed to less living space than, say, single-family suburban homeowners, those in denser areas can offset that lack of personal square-footage by living a larger percentage of thei…