For the first time in decades, serious inflation has reared its ugly head. Costs for nearly everything—including the goods and services needed to operate and maintain multifamily properties—are up an average of 10 percent. Some sectors, par…
Prior to the 1980s, the majority of New York City apartment buildings were rentals, owned by landlords. Then, in the 1980s, many landlords realized that it would be more financially advantageous for them to sell their buildings to the tenan…
At the heart of co-op and condo living is the association or corporation board, that unique self-governing body that directs the community and carries out its mission to uphold quality of life and preserve the investment of its members. Boa…
The 347,000 planned communities in the United States—a number that includes cooperatives, condominiums, and homeowners associations—are generally governed by volunteer members of the building or community elected by their fellow unit owners…
Insurance coverage and the inevitable claims that coverage defends against are a fact of life for multifamily residential communities. In that setting, it’s critical for all parties to understand whose policy covers what, and under what cir…
The residential real estate market in the U.S. experienced an unprecedented spike in home prices between 2020 and 2022, but signs from this spring and summer indicate that the market is cooling off. Existing home sales in the U.S. have dec…
In these difficult inflationary times, many co-op corporations and condominium associations are looking for ways to generate income to make up for unexpected financial shortfalls between their projected operating expenses and current actual…
Like baseball players, condo and co-op owners are often creatures of habit. Settled into their units, they’re used to costs rising over time, but on a regular and predictable basis. That means once a year - usually in January - and by a co…
From flood waters and property damage to power loss and spoiled food, coping with the aftermath of a powerful storm can be very troublesome for co-op and condo community board members, owners, and tenants. Therefore, during the Atlantic Hur…
From flood waters and property damage to power loss and spoiled food, coping with the aftermath of a powerful storm can be very troublesome for co-op and condo community board members, owners, and tenants. Therefore, during the Atlantic Hur…