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Management
The Professional Property Manager
The initials following a person's name often reveal a certain level of educational or professional achieve- Read More
Renewed Confidence in the Real Estate Market
At the Real Estate Board of New York's first residential convention last month, there was a sense of elation 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
Maximize Garage Income
If there's a garage in your build-ing, chances are it's not being used to its fullest potential. Security cameras and gates, Read More
How Safe is Your Water?
It comes roaring down from the Catskill Mountains, from the pristine hills of Delaware County and from the open spaces of Read More
The Self-Management Option
The co-op and condo universe can be divided into two types of properties: The vast majority that engage a Read More
New Security Products Protect Residents
Now board members and management have another reason to sit up and take notice when Read More
Start Greening Your Building
While there has been a lot of talk in the industry recently about energy conservation, it would Read More
Leadership in Management Awards
roperty management is a challenging field that appeals to quick- thinking, high energy individuals. Besides Read More
Cover Story: On The Hiring Line
With the recent indictments strewn about New York’s real estate industry, co-op and condo boards have become more and more choosy about the professionals they select to protect themselves and their homes. Knowing the angst involved in making personnel decisions, we went to the experts themselves and asked how to pick professionals with the right stuff. Read More
Challenges and Rewards
With new and luxurious condos going up all the time across the city, management companies are champing at the bit to become the first managing agent for these often high-profile, upscale properties. If it’s a choice between managing a new multi-unit residential property or an older existing property, it seems like a no-brainer to go with the new one. After all, becoming the first managing agent offers firms the opportunity to establish proprietary operational and procedural systems on a property with all the latest amenities. Plus, the managing agent’s job must be easier since everything from the HVAC system to the doorknobs works, everyone is happy to be in a shiny new home, and the maintenance and structural problems that face older buildings won’t appear for decades…right? Read More
The Least Popular Decision
The boards of some co-op and condo buildings pride themselves on not raising
their monthly maintenance fees for years at a time. At first glance, this might
seem like a good thing—after all, low fees are appreciated by residents and can be attractive to
potential buyers.
Read More
The Value of Continuing Education for Managers
The phrase “jack of all trades” could have been coined simply to describe the profession of residential property manager. To succeed in this fast-paced business, a property manager has to master a wealth of information and skills. More importantly, they continuously have to cultivate those skill sets and pools of knowledge, keeping up with new legislation, new accounting rules, new technologies, software and much, much more. Which is why continuing education is such a must for today’s property managers. Luckily, there are a host of educational opportunities from which they can choose. Read More
When a Project Goes Wrong
Living in a community sometimes requires a bit of flexibility, and that’s especially true when a large construction project is happening. Usually, whether it’s a facade restoration, lobby redesign, or a heating/ventilation upgrade, most building construction projects go pretty smoothly. However, problems with noise, dust, or disruptions in building services are commonplace and to be expected with some construction projects. And if residents have been informed of the possible inconveniences ahead of time, a nasty resident backlash usually can be avoided. Read More
Renter vs. Shareholder Mentality
When a long-time renter purchases a co-op or a condo apartment, the move is perceived as a step up. No longer are you just shelling out rent every month—you're building equity, investing in your own security. Regardless of whether your new home is a co-op or a condo, you have a stake in maintaining your building—and by implication, your neighborhood. Read More
When Disaster Strikes
When a townhouse exploded on Manhattan's Upper East Side last summer, New Yorkers ran terror-stricken into the streets. As smoke billowed from the wreckage, no one knew what had caused the explosion, or how many people had been hurt. Just three months later, on October 11th, panicked residents were again evacuated when a small plane crashed into the 40th floor of the Belaire Condominium on 72nd Street. Smoke and flames consumed the brick wall where the plane lay lodged in one apartment owner's living room. A severed gas line caused a raging fire and sent a cascade of brick, mortar, glass and airplane parts crashing to the sidewalk below. Read More
Traits of Effective Property Managers
It's easy enough to find a property manager —just flip open the Yellow Pages and you'll see dozens. That doesn't mean it's easy to choose one, however. Your managing agent is a fundamental member of your association's operating team, and needs to be someone you can count on to oversee your staff and maintenance program, submit bids for contract work, oversee billing and accounts payable and act as a liaison between residents and board members. Read More
Ways to Achieve Resident Retention
Providing creative ways to show your residents that you appreciate their loyalty will prove to be a wise investment that will help increase resident retention and pay dividends in both public and owner relations. Read More
