Just as the world is populated with both good and bad people, New York City is populated by some excellently run and well-organized co-op and condo boards, and some not so efficient. Making unpopular decisions doesn't necessarily mean a bo…
There are a lot of things people consider when they look into buying a condo or co-op in New York City. Location is important, safety is an issue, and the size of the space is always a factor. But one thing that may get overlooked is the i…
Since my column in June of this year, there have been some significant cooperative and condominium cases that have been given little publicity. The most interesting case, may be the West Gate House case which brings the infamous Jennifer R…
Most of the time, "communication" and "openness" are watchwords for boards and management. Clear, transparent communication between boards, managing agents, and shareholder/owners should be right up there with "location, location, location"…
Of all the members of a co-op building's board, the treasurer is in a unique position to uphold the fiduciary responsibility of the corporation, similar to that of a chief financial officer in the corporate world. Basically, "the tre…
Serving on a co-op board or condo association certainly has its advantages. Not only does the position give shareholders a chance to have more say in how their community is run, it helps add to their knowledge and understanding of what goe…
Even though subletting is often frowned upon by boards and sometimes forbidden outright, that doesn't stop shareholders all over the city from renting out their co-ops. Shareholders may sublet as a means of making money on an apartment tha…
With any sort of multifamily housing arrangement comes the possibility of a certain amount of conflict between the various involved parties: shareholders, board members, management, and sponsors. In theory, a key role of a board of directo…
Lots of people talk about the stress and uncertainty of the approval process in New York City's co-op and condo buildings; all that scrutiny, all that paperwork! But the endless reams of forms and files take another toll as well - on the e…
You may not realize it, but your building may be hemorrhaging money. Not in the form of disastrous lawsuits or maintenance crises like a collapsed roof or exploded boiler, but in a steady trickle coming from your method of ordering supplie…