Category: Association Operations

The process of producing energy to metropolitan condos and co-ops has dramatically evolved in recent years. It's advanced to the point in which Lewis Kwit, the president of Energy Investment Systems in New York City, makes a relatively accu…

In days gone by, when you opened something up, you simply threw away the packaging. You ate your dinner and threw away the scraps, and you tossed your ratty old sweatshirt, t-shirt or jeans in the dumpster when they had more holes in them t…

Americans today are moving toward a more well-developed awareness of their environment, and what it takes to protect and preserve earth’s natural resources. City dwellers and suburbanites alike typically recycle paper, plastic, and glass st…

After a prolonged fight between Republican Governor Chris Christie and Democratic lawmakers, Gov. Christie signed a $33.8 billion dollar budget for New Jersey into law. Back in February, Gov. Christie proposed cuts nearly across the board …

Data breaches can happen from hackers, employees, competitors, vendors or other third parties and can be intentional or accidental. It is well documented that even the best security systems are being hacked at an alarming rate. Most recent…

In New York City, it is not uncommon for boards and managing agents to levy a “flip tax,” or a transfer fee paid to the co-op or condo association by owners who sell their units. “Flip taxes are extremely beneficial as an ongoing fun…

Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family home…

Property insurance, by definition, is a guarantee of compensation for a specific loss or damage to physical property or equipment. Within that broad and simplified explanation there is room for multiple interpretations—and more than enough…

In the tri-state area, where even the most profligate among us may shed a tear or two at hotel room prices, the homesharing trend has grown by leaps and bounds, with more co-op and condo owners than ever renting out their units to short-st…

From equipment failure and personal injuries to tornadoes and tropical storms, disasters happen. Any condominium association worth its salt knows that it needs to be prepared for a rainy day. A great chunk of that preparation is insurance.…