Just as the ways in which we socialize have changed in recent years, so too have the spaces in which that socializing has traditionally been done. Common spaces and amenities in multifamily buildings and condo associations have evolved to s…
No matter what the size of their portfolio, a property manager must wear a great many professional hats: human resources pro, administrator, mediator, organizer, social director, project manager, sounding board—sometimes even therapist. I…
A cooperative, condominium or homeowner's association is more likely than not governed by a ragtag band of brave volunteers. Oftentimes, these folks have outside jobs that have little to do with maintaining a residential real estate propert…
I wish someone had told me the nuances of trying to cultivate a community while also trying to manage a business,” said Pat Burke, the current president of the Fieldstondale co-op in the Riverdale section of the Bronx, when asked what he wi…
Like beauty, what constitutes an 'amenity'—particularly a 'luxury' amenity—may well be in the eye of the beholder. Young families may want indoor and outdoor play equipment, while professionals may appreciate a well-appointed gym, and senio…
For over a century, states have had laws, rules and regulations in place to ensure that employees who are injured while performing their jobs are adequately taken care of. An uninsured employer that finds itself embroiled in a workers' comp…
As any manager, board president or building administrator rightly knows, protecting your building community against a man-made catastrophe, natural disaster, act of God, or just basic negligence, is not a trivial task. Property casualty in…
Preparing the annual budget for a condo or HOA isn't quite like figuring out a budget for a couple, or even a large family. The board of a multifamily building or association has to consider all the angles—past, current, and future—when for…
While it's pretty much impossible for a co-op or condo board or employee to commit fraud on the scale of a Bernie Madoff or any one of the herd of shysters who have tromped through the news in recent years, building boards and managers cert…
The majority of co-op and condo residents pay their monthly maintenance fees on time and in full with no problem. The recent recession, however, changed the picture drastically for residents who found themselves laid off, under-employed, or…