2003 Nov
2003 Nov Vol. 23, No. 11
Focus on...Working With Professioanals
Part of the Whole
They're inside your favorite restaurant and out in the streets. They stand inside doorways and behind desks. They're up in the sky and far below ground level. They're everywhere. From the classic diner waitress apron to the busboy's jacket to the bellboy's hat, uniforms help us recognize people and positions in our world. They define status, help us find people who can offer assistance in service or emergency situations and they provide (you guessed it) visual uniformity to a group of people with the same goals and purpose. Uniforms are used for a reason - they work. Read More
A Little R & R in DUMBO
The area of Brooklyn known as DUMBO, short for Down Under the Manhattan Bridge Overpass, has been named renamed and named again throughout its history. As early as 1642 as the Dutch settlers moved into Long Island and began establishing farms it was known as "no mans land." As these same settlers began to run ferries between Manhattan and the Brooklyn waterfront, entrepreneur Robert Fulton came along with the steamboat service and made it an eight-minute commute from pier to pier. Ferry soon became the most popular means of commuting, and the steamboats began to bring people, food, mail and even wagons to the island. This popularity turned the area from "no-man's land" into "Fulton Landing" and soon thereafter into a miniature commercial port for Brooklyn. Read More
Hands On or Off?
It pays to have a competent, active board at the helm of a building community - a strong, stable board translates to better value for shareholders. But just how hands-on should a board be? Sometimes the daily management of a co-op or condo is best left in the hands of a managing agent. However, other situations may require not only the board's involvement, but also that of outside legal counsel. Effective management ultimately comes down to teamwork and communication. Read More
Challenging Your Real Estate Taxes
Tax certiorari. Even the name remains obscure in Latin, perhaps in an effort to make the entire process seem difficult and hard to manage for the average real estate owner. For co-op and condo boards, however, the tax certiorari proceeding is a real opportunity to reduce real estate taxes for their buildings and for their shareholders. The real estate tax rate in New York has gone up 18.5 percent since last year, making it more important than ever to exercise your building's right to lodge a protest. Read More
The Short List
When a client hires a general contractor to build or renovate property, that company is legally responsible for completing all of that work. The contractor may go out and hire different companies or subcontractors to help execute that work, but the prime contractor still remains liable, and the subcontractors are liable to the general contractor, not the client. Subcontractors have what is called "privity of contract" with the general contractor. The general contractor also has privity of contract with the client. Read More
Avoid Home Improvement Scams
The National Association of the Remodeling Industry (NARI) offers homeowners these top ten warning signs that a home improvement contractor may not be reputable: Read More
Tips to Avoid Home Remodeling Fraud
During a large scale remodeling project, there are many questions that a homeowner may forget to ask, says the National Association of the Remodeling Industry (NARI). Read More
It's All in the Planning
Stephen Carter, principal and founder of the Carman Group, a Manhattan- and Connecticut-based firm that specializes in design and project and construction management is well accustomed to applying his creativity and passion for details to other people's living spaces. But last year, he completed one of his most ambitious endeavors yet - his own home. Read More
Guarding the Gates
As one of the doorman for the residents of 565 West End Avenue, Michael Cunniffe has been opening doors, accepting packages, hailing taxis and shoveling sidewalks for over twelve years. "I like my job; I'm a people person," says Cunniffe, who is also a retired bus driver. "I deal with the public all the time. I have no complaints." Read More
Coming Clean
Two condos are the same price, in the same neighborhood, and are equally pleasing to the eye. What makes someone buy one and not the other? Amenities. One of the most important amenities for many homebuyers is an on-site laundry room. No one wants to drag three loads of socks, towels and unmentionables to the nearest laundromat every Saturday, then spend their afternoon sitting and waiting for a lukewarm dryer. To someone looking for convenience, an on-site laundry is a big plus - meaning that buildings that offer on-site laundry facilities are offering residents added value and convenience. And that's always a good thing. Read More
The Dream Team
Oftentimes, co-op shareholders forget that their building is not only a home, but also a business. And while running a home is a big responsibility in itself, with financial, legal, and managerial elements, running a cooperative corporation is even tougher. With most board members acting as volunteer directors who may or may not have inside knowledge of the day-to-day concerns facing their home/business, it's vital that every board has a team of skilled, competent professionals to help when things get complicated - and to try and avoid complication in the first place. Choosing such professionals to help guide your building is a tall order, but if you know what to look for, what questions to ask, and what you can and should expect from your hired pros, the task is a little less daunting. Read More
Stand in Judgment
Every home is an investment, but for co-op shareholders - and, to some extent, condominium unit owners - their home is also part of a business. As with any business, good management can make or break it and in a co-op or condominium, a big part of that management team is the building's board of directors. Like any corporation, the board has a fiduciary responsibility to shareholders to oversee building operations and finances. But when shareholders are also neighbors, and when quality of the living environment can be affected by the board's decisions, the stakes are high and board members must remember to keep a keen business sense and not be ruled by their personal feelings. Read More
