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Category: Finance

Finance Five small wooden buildings with coins floating away from rooftops
Mid-Year Maintenance Increases?

Like baseball players, condo and co-op owners are often creatures of habit. Settled into their units, they’re used to costs rising over time, but on a regular and predictable basis.  That means once a year - usually in January - and by a co…

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Finance Businessman using innovative virtual touchscreen presses taxes button.with icons state taxes.Data analysis,paperwork,financial research,report.Calculation tax return surrounding.taxes Concept
Co-op & Condo Tax Abatement Filing Deadlines

Many cooperatives and condominiums in New York have long benefitted from a tax abatement program under ​​Real Property Tax Law 467-a. In September of 2021, Governor Kathy Hochul put new eligibility requirements into this law that go into ef…

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Finance Piggy bank and borrow grunge concept
Co-op & Condo Financing

Aging is expensive—and that goes double for residential buildings. Exterior deterioration is inevitable, mechanical systems do not last forever, and everyday foot traffic and wear take their toll on even the sturdiest structures. For many c…

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Finance Arrow with dollar bills pointing up. Concept shot for currency exchange rate going up, inflation, economic boom
As Costs Rise, So Do Carrying Charges

The Community Associations Institute (CAI) estimates that 74 million Americans live in communities managed by homeowners associations, of which condos account for 35% to 40%. That’s a lot of people - many of whom may be in for a nasty shock…

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Finance Out of Sight, Out of Mind...Out of Money?
Out of Sight, Out of Mind...Out of Money?

Beautiful new residential buildings are erected every year. As developers make the finishing touches, the walls are closed to conceal elements like piping, wiring, fire suppression systems, and insulation. Unfortunately, awareness of these …

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Finance Mixed Income Communities
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 Where Does It Go?
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
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?
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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