Even among otherwise conscientious, community-minded condo, HOA, and co-op residents, the idea of running for and serving on their board often ranks somewhere between taxes and dental work on their list of things to look forward to. It conj…
Of the many consequential decisions boards and board members have to make on behalf of their communities, choosing a management company—or a manager within a given firm—is among the biggest. Managers are the point of contact between residen…
Board approval has been part and parcel of buying into an NYC co-op since the housing model was introduced in the late 1800s. Boards can demand troves of personal information from buyers, and can approve or deny a purchase for just about an…
The governing documents of a cooperative, condominium, or homeowners association spell out the rules, regulations, and administrative policies that all residents and board members alike are obligated to follow as a condition of their reside…
Congratulations, you’ve bought a unit in a co-op, condo, or HOA! Now that you’ve got your deed or your shares certificate, it’s time to make all those alterations you’ve been dreaming of, adopt all those pets you’ve been helping down at the…
In addition to their boards, common interest communities are governed by a set of foundational documents. In a condominium, those documents are the declaration and bylaws; co-ops also have bylaws, as well as a unique document called a propr…
In multifamily residential communities, where neighbors share common space, amenities, and maintenance—if not actual walls—establishing and maintaining boundaries can be a bit tricky. Physical boundaries are often breached by things like …
This publication spends a lot of time exploring and explaining the duties and purpose of multifamily boards—the benefits and drawbacks of serving on them, and even the difficulty that many buildings and communities have with motivating owne…
Groucho Marx once famously said, “I wouldn’t belong to any club that would have me as a member.” Not so for many in the world of co-ops, condos, and HOAs. Shared communities often (if not usually) have an application process required for p…
According to the Foundation for Community Association Research’s Community Association Fact Book 2023, 30% of the U.S. population currently resides in a condominium community, housing cooperative, or homeowners association, with numbers of …
When someone buys a private single-family home, it’s clear who the king or queen of the castle is: the homeowner. When it comes to condominiums and co-op apartments, however, the relationship between resident and property is a little more c…
As members of co-op corporations and condominium associations, we often hear the term fiduciary duty bandied about. But what does it really mean to be a fiduciary? Stated simply, the term ‘fiduciary’ means trust. When a person managing the…
Board approval has been part and parcel of buying into an NYC co-op since the housing model was introduced to the city in the late 1800s. Boards can demand troves of personal information from buyers and can approve or deny a purchase for ju…
It’s a constant refrain in multifamily governance and management: open, transparent communication between boards, managers, and residents is vital to running a building or HOA effectively and equitably. Unresponsive, disconnected leadership…
January marks the beginning of a new chapter for the property management industry, and with it comes a fresh focus on technology, compliance, resident expectations, and serving client communities better than ever. Having adjusted to the cha…
Each and every multifamily community is different, with unique needs, expectations, and challenges. If you’re a regular reader of this publication, you’ve heard that refrain many times, across a broad range of contexts—including board gover…
The ever-changing, often unpredictable nature of their industry requires professional property managers to be adaptable. On any given day, a manager might find him- or herself dealing with issues ranging from managing a major capital repair…
A cooperative, condominium or homeowners association is the cornerstone of a building community. The co-op, condo or HOA maintains order and continuity by preserving architectural integrity, maintaining the common elements, protecting prop…
From time to time, every co-op or condo community has to undertake big capital improvement projects—perhaps a total window replacement, roof repairs, an elevator overhaul, or major exterior renovations. The laws and regulations that deal …
So, you’ve decided to buy an apartment in the tri-state area. Congratulations—that’s the easy part. Now you must choose whether to buy into a cooperative or a condominium. That’s harder. Significant differences exist between the two model…