Cooperator - Articles - Finance

Money Makes the Board Go Round

no@spam.com (Mary K. Fons) — Wed, 30 Jul 2008 16:31:04 EDT

They don’t call it “the bottom line” for nothing. When all is said and done, pretty much everything in business (okay, pretty much everything, period) comes down to money. In most business situations, a chief executive officer or a company president has the final word on money matters; the association or residential co-op business model dictates that fiscal responsibilities are shared between a building’s board and its managing agent. This complex relationship demands that managers embrace understanding, communication, and serious patience when it comes to a building’s money matters.

Ordering Supplies for Your Building

no@spam.com (Denton Tarver) — Wed, 30 Jul 2008 16:27:41 EDT

Along with big-ticket items like boilers, HVAC systems, and the like, residential buildings also have to purchase lots of little, everyday things like cleaning supplies, light bulbs, and paper products to keep up with day-to-day maintenance and operations. Though not necessarily expensive in and of themselves, costs for these small things can definitely add up over the course of a year. As the ones charged with ordering and inventorying these supplies, it’s up to managers and building staff members to keep a lid on costs and be conscientious about limiting waste.

Who Makes the Cut

no@spam.com (Lisa Iannucci) — Wed, 30 Jul 2008 16:18:34 EDT

When the author of this story bought her home, she sat in disbelief when the lawyers handed her the last paper to sign—the one that confirmed she signed all the other papers!

Dealing with Special Assessments

no@spam.com (Jonathan Barnes) — Wed, 30 Jul 2008 16:10:58 EDT

Boston, Massachusetts may seem worlds away from New York City, but the story of one embattled condo building there represents a dire cautionary tale for boards and managers everywhere.

Foreclosure Epidemic Skips Big Apple...So Far

no@spam.com (Keith Loria) — Wed, 30 Jul 2008 15:49:59 EDT

Whether you own your own home or not, you can’t help but know about the subprime mortgage crisis that is sweeping across America as foreclosures are claiming people’s homes everywhere we look.

What Your Board Should Know

no@spam.com (Stephanie Mannino) — Wed, 30 Jul 2008 15:45:39 EDT

Co-op boards are notorious for scrutinizing potential shareholders. Condos, on the other hand, are often thought of as more lenient—and thus more desirable—by buyers because condo boards lack the power to probe too deeply into a buyer’s personal business. While this might be attractive to purchasers, it means the board has less control—and often little say—in who resides in their building.

New Options for Co-ops

no@spam.com (Raanan Geberer) — Wed, 30 Jul 2008 15:36:54 EDT

As many readers are by now aware, a rule that proved a hindrance to the operations of many co-ops in New York was drastically altered in December of last year--and the changes are having far-reaching effects on the city's co-op communities.

Taking a Bite out of the Big Apple

no@spam.com (Greg Olear) — Wed, 30 Jul 2008 15:32:27 EDT

In most cities, traditionally, the choicest pieces of real estate are owned by native sons and daughters, people who are from the area. Money comes in from everywhere, but the entrepreneurs making that money are homegrown. Heinz and Carnegie in Pittsburgh, Ford in Detroit, and more recently, Bill Gates in Seattle.

Take Advantage of 1031 Exchanges

no@spam.com (Stephen A. Wayner and Eric Goldberg) — Fri, 30 May 2008 12:09:56 EDT

The “Green Movement” has quickly gone from fad to trend to global initiative. In the U.S., corporations as well as commercial and residential property owners are being challenged to find ways to embrace ‘Green Initiatives’ in response to demands for greater sustainability, social accountability and profitability.

Keeping Design Projects Under Control

no@spam.com (Anthony Stoeckert) — Fri, 30 May 2008 12:04:29 EDT

A good redesign of an outdated, obsolete, or run-down common area in your co-op or condo building can be a thing of beauty. Spiffing up a lobby, hallway or elevator can not only inspire residents to take more pride in where they live, but can help maximize property values as well.