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The rules governing co-op housing in New York City are constantly changing and evolving. One new regulation with major implications for co-op boards is the City Council’s Intro 1120-B, which went into effect in January after bouncing around…
For decades, New York State’s laws governing cooperatives and condominiums have largely remained the same: co‑op boards make decisions about sales and finances behind closed doors, condos run on their own governance, and residents’ rights b…
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…
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…
If you live in a condominium, cooperative or HOA, you’re effectively acting as part of a participatory democracy governed by an elected group of volunteers. And, as with any democracy, those affected by the board’s decisions are encouraged …
In the labyrinth of our legal system, changes to a law can reverberate outward to impact areas not originally intended. Such is the possibility with recent changes—and changes to those changes—to the Corporate Transparency Act (CTA). Hal Co…
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 …
Q. Why are co-op board minutes so sparse that others who read them—shareholders, lawyers, brokers—have no real idea what goes on at meetings? Our minutes are routinely ‘sanitized’ to leave out any troublesome issues, any comments by vario…
In a market economy, price and value are assumed to be mutually reflective. Investors expect that their assets - in our case real estate, and specifically co-op and condominium apartment units - not only maintain their value, but experienc…
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 …