Q “In 2008, the board of my building took out a loan to fix the roof after a hurricane. It is my understanding that it was a five-year loan with a balloon, that they had to refinance it in 2013, and that the loan is now extended until 201…
Legal issues, maintenance challenges and state and local code compliance requirements are just the tip of the iceberg when it comes to the obstacles condo and co-op boards, along with their owners and building managers, struggle to navigat…
Big or small, disasters often strike out of the blue. They catch us unaware, flatfooted and feeling helpless at their impact. This is especially true when these events hit us at home or within our shared communities. When fire, flood, hurr…
As the holiday season approaches in the Big Apple, many New Yorkers may be preoccupied with choosing gifts for picky family members, finding a parking spot downtown, or snagging that coveted new smartphone. Those who live in multifamily bu…
Property managers know that whether they're running a small, contained walk-up building, a multi-unit high rise, or a sprawling condo development in the suburbs, materials, capital and personnel all fall under their administrative jurisdic…
Few things illustrate the fragility of modern civilization more clearly than plumbing problems. A broken pipe, a backed-up toilet, a flooded bathroom—any one of these can quickly go from annoyance to emergency, and the longer a plumbing pr…
The rarely stated—but all too well understood—Murphy’s Law for Boilers—asserts that if your boiler quits working, it will do so on Christmas or New Year’s Eve, or at 4:45 p.m. on the coldest day of the year. With some planning, though, tha…
From the outside, the structure of a condo or co-op building may appear to be monolithic; just one big piece of brick and steel, punctuated with some glass here and there. That's an oversimplification, however. A multifamily building is pe…
Q My association is in the process of changing its bylaws. One such change pertains to check signing. Our current bylaws state that two board members' signatures are required for disbursement from any of the association's bank accounts. T…
Ho-Ho-Kus, New Jersey is a quiet suburban hamlet, known for its affluent residents, and its strange-sounding syllabic Native American Indian name. Well, most accounts anyway trace the origin of Ho-Ho-Kus to the Chihohokies Indian tri…