1995 Nov
1995 Nov Vol. 15, No. 9
Focus on...Building-Wide Finacial Strategies
Changes in Lead Law
If you thought asbestos was a problem, wait until you hear about lead. Found in 57 million private homes in the United States (two million in New York City), lead-based paint poisons young children, reduces IQs, and causes learning disabilities, hyperactivity, and behavioral problems.
Read MoreDesigning for the Environment
As issues such as global warming, shrinking rain forests and overflowing landfills move to the top of our national agenda, environmental considerations have taken a higher priority among interior designers as well. These days, a kitchen renovation can't just tuck a small garbage receptacle beneath the sink; bulky recycling containers have to be accommodated. And concerns about air quality and toxic substances from lead paint to floor finishes are commonplace. Today's designer should be equipped to answer questions and solve problems that take the environment into account, a service their clients have come to expect. Read More
Making the Match
One of the most difficult decisions boards of co-ops and condos have to make is who should Read More
A Team Effort
Anyone who has spent time serving on the board of his or her co-op or condo knows that it is a job that no one can do alone. Even if you have the most conscientious group of board members, the job is too time-consuming for a group of volunteers to do in their spare time. That's where your management team comes in; the professionals hired by the board to help in the day-to-day and long-term operations of the building. But even if your board has hired the best management firm, the best attorney, the best accountant and so on, the team is only as good as its coach. And in the case of a co-op or condo, the board has to act as the coach: organizing meetings, making sure the various team members are working together, facilitating communications and working out strategies. Read More
Working With Your Accountant
While real estate brokers live by the old adage, Location, Location, Location, accountants define their relationships with the real estate community with another phrase: Communication, Communi-cation, Communication. While cooperatives and condominiums generally hire accountants to take care of the fiscal necessitiesthe annual financial statement, budgeting, tax returns, etc.they still need to be educated about how to maximize their relationship with these professionals. To accomplish this, cooperative and condominium clients must gain a precise understanding of their accountant's role in their business dealings. Only by keeping the lines of communi-cations open between these two parties will the accountant's services be fully realized. Read More
