Category: Finance

Increasing residents’ monthly fees is never popular, but with insurance, labor, materials, utilities, code compliance and other operational costs rising across the board, your building’s cash inflow needs to reflect economic realities in or…

American families are facing a convergence of economic pressures that are redefining what it means to live comfortably. After years of elevated inflation, the cost of essentials, from housing and groceries to transportation and health care,…

With the recent passage of legislation extending key provisions of the Tax Cuts and Jobs Act (TCJA), the debate over who benefits most from the U.S. tax code has once again come into focus. Originally passed in 2017, the TCJA lowered indivi…

Positive cash flow is the lifeblood of any multifamily residential community, be it a rental building, co-op, condo, or HOA. However, because the latter three are nonprofit entities, maintaining consistent cash flow is even more critical to…

In response to the 2021 Surfside Condominium tragedy in Florida, many states and municipalities have adopted, are considering adopting, or are updating existing rules governing reserves, reserve studies and maintenance schedules for multifa…

When a condo or co-op resident runs for a seat on their board, the decision to do so generally comes from a desire to ‘step up’ and participate in the governance of the place they call home, and the building or association community as a wh…

In response to the 2021 Surfside Condominium tragedy in Florida, many states and municipalities have adopted, are considering adopting, or updating existing rules governing reserves, reserve studies and maintenance schedules for multifamily…

After a long period of low rates marked by high levels of activity in financing, the dramatic climb in interest rates over the past two years has presented challenges for co-op buildings faced with refinancing their underlying permanent mor…

As 2023 draws to a close, the New York metro’s co-op and condominium communities are feeling the consequences of a long, slow, persistent market decline brought on by the pandemic, rising interest rates, and inflation. That decline has mean…

Congratulations! You’ve just been elected to the board of directors, and given your first monthly financial packet. Like many new board members, your first thought is, “This is so confusing. Glad I’m not the treasurer - I don’t have to unde…