Category: Finance

Finance
2021 July Mixed Income Communities

Like so many other communities throughout the United States, New York City remains segregated in many respects—racially, economically, and socially—but even so, the city has achieved a level of housing integration despite the systemic force…

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Finance
2021 July Where Does It Go?

The vast majority of co-op and condominium boards are well intentioned and work diligently with their management and accountants to draft and monitor their annual budgets—and recalibrate them as necessary. Despite their best efforts to keep…

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Finance
A Day Late, a Dollar Short

In a world where the cost of services and goods are generally rising, even in the absence of any substantive inflation, co-op and condominium boards and management are always looking for ways to hold the line on increasing monthly costs.  T…

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Finance
Home Office Expense?

As we all know - and are probably sick of hearing at this point - the past year has been a time like no other.  Many of us who regularly work in offices have been working from home, many for the first time. Does that qualify us for the same…

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Finance
Anatomy of a Condo Loan

As we’ve reported in previous articles, special assessments are not the only tool condo associations and HOAs have to finance common area improvements and major repairs when needed; there are also loans available in the marketplace to help …

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Finance
Using Reserves to Cover a Cash Shortage

Reserve funds are a normal - and crucial - component of the budget for any co-op and condominium community. Lenders of all types, whether it be the banking institution that holds the underlying permanent mortgage on an entire co-op building…

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Finance
2020 July The Price is…Right?

Even before the COVID-19 crisis hit, the question of where real estate values were going was the elephant lurking in the corner of the room. Some submarkets (like Florida, for example) were strong—and getting stronger. Others (like New York…

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Finance
2020 July Budgeting in a Changed Landscape

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…

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