Category: Building Operations

Many apartment dwellers live under the misconception that their choice of dwelling--whether it’s a multi-family building or in a community--relieves them of many of the mundane responsibilities of home ownership, like no lawn to mow and no …

Lawsuits are expensive endeavors, period. But what about everyday legal costs - contract vetting, sending documents back and forth, assessing prospective purchasers' information, and so forth? How can boards keep a lid on those expendit…

One can be forgiven for not keeping up on the latest in technological development. When it seems like Apple is holding keynote events every 11 days to unveil the latest iPhone, it can be both mentally and financially exhausting to stay on t…

To claim...or not to claim? That can be a tough question; on the one hand, nobody wants to pay out-of-pocket for something their insurance policy covers. On the other hand, too many claims can add up to increased premiums - or get a condo o…

A proposed agreement drafted by New York City’s Housing Preservation and Development (HPD) department has caused Mayor Bill de Blasio some grief recently, as regulatory measures affecting buildings in the Housing Development Fund Corporatio…

When it comes to hiring professionals – either to do work on a property, or provide some sort of service for a co-op/condo/HOA community—it’s generally the property manager who solicits bids, goes over proposals, and cuts checks to pay for …

You work hard and try to put money away to be used for a rainy day —hoping of course that that ‘rainy day’ is a long-awaited trip to somewhere fabulous and tropical. Then, boom—the brakes on your car suddenly go, or one of the kids needs br…

Money, money, money. The world runs on it. And your building’s well-being depends on it. The issue is not just having funds, but managing them. Handling the purse for an entire building or HOA is a major responsibility, and boards -- even …

There are few feelings worse than encountering an unexpected expense and finding the piggy bank empty. That is why reserve funds and reserve studies are such important elements in the financial well-being of co-ops, condos, and homeowners’ …

Property management - or rather, effective property management - involves a great many moving parts and potential loose ends. Here, a trio of management professionals discuss how they keep it all straight, manage their time, and do their pa…