Q. A co-op owner purchased her unit in 2005 and has been subleasing it to the same tenant since 2011. The co-op board recently passed an amendment to the bylaws that states an owner cannot sublease a unit for more than two years, and it a…
Q. I live in a Housing Development Fund Corporation (HDFC) building in the Bronx. My building has no meetings or elections, and shareholders are not informed of our financial status at all. The treasurer’s son has taken complete control a…
Halloween may be over, but that doesn't mean that living in a co-op or condo community can't be scary sometimes. And while multifamily real estate is rarely haunted in a truly spectral sense, eerie goings-on still take place, sending chills…
Co-op and condo communities tend to cover all their bases when it comes to allowing someone new into their community. In most instances, applications and interviews are the norms. But you can’t exactly predict what someone will do in the fu…
New York dealt a setback to Airbnb on October 21, when Gov. Andrew Cuomo signed a bill into law that prohibits users of the popular online hospitality marketplace and other home-sharing sites from advertising their units for short-term re…
You can screen potential residents before letting them buy into your co-op or purchase a condo unit all you want, but that doesn’t mean you’ll catch everything. Sometimes things just go undiscovered during the initial screening process for …
Not every co-op or condo in New York City has grassy areas on the property. But for those that do, the question of what is allowed on them often comes up. Sure we’ve all passed by buildings surrounded by lush grass lawns protected by a s…
For those who live in multifamily residential buildings, the scenario is all too familiar: a neighbor lights up a cigarette inside their unit, and the smoke travels through the hallway and finds its way into neighboring residents’ homes. So…
The U.S. Treasury Department announced in January that it will begin to track illicit cash purchases of luxury condos in New York and Miami. In New York, the new regulations will apply to cash transactions of $3 million or more. The federal…
There are few people as passionate as pet owners, and for evidence look no further than condo and co-op communities. The many health and aesthetic concerns that go with pets compel many boards to favor a ban on pets altogether. However, if …