Board approval has been part and parcel of buying into a co-op since the housing model was introduced in the late 1800s. Boards can demand a great deal of personal information from buyers, and can approve or deny a purchase, as long as the …
It’s little surprise to many that the residents of luxury apartment buildings spend less time in their apartments than their less well-off neighbors. Second and even third homes are the reality for many wealthy shareholders and unit owners—…
Perhaps you’ve watched an episode of Law & Order , or one of the many other shows shot in and around the New York City metro, and wondered how the producers select buildings for location shoots. Maybe you’ve even wondered whether your …
Among the keys to successful governance of residential communities is continuity. The most basic of democratically elected units, co-op, condo, and HOA boards are the custodians of their community’s welfare, success, and continued operatio…
In the world of co-ops, condos, and HOAs, management plays a slightly different role than it does in the rest of the real estate world. For example, in many rental buildings, the landlord or property owner often acts as de facto manager as …
While visions of sugar plums may be dancing through your head this time of year, if you’re sitting on the board of your condominium or co-op it may be time to think about projects a bit further down the road; specifically, projects that are…
As the effects of climate change intensify, apartment communities are faced with new and newly stringent requirements on many fronts in an effort to slow the tide. These range from converting from fossil fuels to more efficient types of ren…
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…
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…
Condos and co-ops are unique in their management structure, of which there are two levels: the board of the association or corporation, which governs the community on behalf of the unit owners or shareholders, and a hired management agent, …