Much has been written recently about the management industry indictments, the role of the managing agent and how to monitor management. Little has been said, however, about what it takes to make a board/manager relationship work. The mana…
It’s happened twice recently. In the summer of 1994, 72 New York property managers were convicted of taking kickbacks from contractors and extorting payoffs. This resulted in a $4 million restitution fund. Then, just last summer, 21 corpora…
You are about to read tales of greed and corruption, costly incompetence and outright thievery. There is even a little sex and gambling thrown into the mix. Stories from television soap operas? No, these are the days of our lives in the New…
Not entirely satisfied with the performance of your management company? Chances are your board hasn’t sought a new agent because they were frightened of the transition. Such is the case with many of the buildings that have interviewed Ronni…
Daniel J. Wollman, chief executive officer and managing director of Gumley-Haft Real Estate, is not the executive one would expect to see as head of one of Manhattan’s premier residential real estate management firms. Casually dressed and s…
In many co-ops and condos it is the managing agent's responsibility to work with the board, superintendent and maintenance staff, vendors and other building professionals to create a safe and satisfying living environment for shareholders. …
With the recent indictments strewn about New York’s real estate industry, co-op and condo boards have become more and more choosy about the professionals they select to protect themselves and their homes. Knowing the angst involved in makin…
Professional residential management is a service industry, and some service providers perform better than others. To evaluate how your property's management measures up, it's necessary to assess both how the company functions as a whole …
The increase in the number of co-ops and condos in New York City has changed the way many New Yorkers live. Renters who have purchased a co-op apartment have become owners of stock while condo owners posses a block and lot. The traditional …