Buying an apartment in New York City isn’t just a matter of finding the right unit and qualifying for a mortgage. In the case of a co-op, it’s also a matter of passing muster with the board. And even for a condominium world today, prospecti…
Everyone – including the boards and managers of community associations – inevitably makes mistakes, or is guilty of using poor judgment. And while it’s very unlikely that every member of a community will commit outright illegal acts, it’s a…
Most newly-elected condo or co-op board members aren’t experts in running a multifamily building or development. They may be eager, enthusiastic, and committed to serving their community. But they also probably have little idea of how to do…
Laws, and the legal decisions that support and enforce them, are constantly evolving and can affect every facet of community life in HOAs, condominiums and co-ops. While law and legal cases can emanate from any of our three levels of govern…
When a community association enters into a contract with a professional management company, board members may feel a sense of relief. After all, much of the burden of running the community's daily operations has now been transferred to (hop…
It’s a very unpleasant but often common situation in community living: the moment when the association has to evict or eject an owner or tenant. It could be for a variety of reasons, but mostly due to the delinquency of the person to pay hi…
Three officials responsible for the application process for purchasing Mitchell Lama co-ops in Coney Island were indicted for allegedly accepting bribes from applicants who wanted to buy into affordable housing The 78-count indictment …
Taxes from the sales of multimillion-dollar homes are going up, thanks to the folks up in Albany. As part of New York State’s 2020 budget, a change has been enacted to New York State’s ‘mansion tax.” Originally enacted in 1989 by the…
Nobody gets into property management thinking it's going to be an easy, totally stress-free career -- on the contrary, many pros get into the field precisely because they enjoy a challenge, and prefer that every day come with a new and diff…
While the average co-op shareholder or condo unit owner doesn't need to have an exhaustive knowledge of their building's governing documents, part of being an active, engaged member of a multifamily community is having at least some familia…