Q. “Over the last decade or so, the demographics in our building have shifted, and currently, about 40% of the residents are native Mandarin speakers — some speak Mandarin only. Our recently elected board president is one such resident, a…
New York City is one of the most complex and competitive real estate markets in the world. From towering Manhattan co-ops to charming Brooklyn brownstones, managing property here is both an art and a science. Behind every well-maintained lo…
It takes many vital components working in unison to enable a residential multifamily building to function effectively: a management team to help things run smoothly, committed, engaged board members who volunteer their time, and residents w…
Author and former presidential speechwriter James Humes once said, “The art of communication is the language of leadership.” In multifamily communities, transparent and open communication helps ensure smooth operations and leads to greater …
The term ‘diversity’ encompasses an expansive range of demographics within a population, from ethnicity, age, gender and orientation, ability, religion, and socioeconomic status to culture, language, and personal lived experience. These fac…
The right property management team can make or break a building. While basic day-to-day maintenance and financial oversight often take priority when managing a multifamily property, comprehensive property management also includes building s…
What rights do individual owners have to inspect their association’s books? What rights do boards have to limit owner review? When can a board restrict what an owner discloses to other owners, or what board members disclose to owners? This …
Achieving balance between board and management is vital in maintaining a healthy collective. A community run by elected representatives requires a combination of experience and professionalism—and that support is frequently provided by a hi…
Q. Is it illegal for a cooperative board to decide not to hold an annual shareholder meeting? If a cooperative board does not meet, what rights is a shareholder entitled to? —Shareholder Waiting for the Meeting A. Margery N. Weinst…
Like any profession, property management has its moments. Managers often feel a sense of great achievement when they’ve done a good job for a client community, sorting out a seemingly intractable problem, saving them thousands of dollars, o…