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…
When the average American taxpayer (or tax-dodger, one supposes) hears the word “audit,” they’re likely struck with a feeling somewhere between annoyance and terror. Usually that’s because being audited means that something has been found a…
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 their he…
As has been widely reported lately, Fannie Mae, which is under the conservatorship of the Federal Housing Finance Agency (FHFA) has developed a secret blacklist of condominiums, HOAs and co-ops that are ineligible for “conventional financin…
With inflation and supply chain disruptions dominating much of the news these days, multifamily boards and managers are feeling the squeeze, whether in the form of rising prices for necessary supplies, or lack of those supplies altogether, …