If you live in a condo or co-op in New York City, your building is obviously protected with insurance—but do you really know about the various layers of protection standing between your community and a broad array of risk factors? Does y…
It’s capitalism’s most basic tenet: supply and demand. When supply is sparse and demand high, prices go up. When supply is plentiful however, prices go down—and suppliers are forced to diversify their offerings in order to distinguish th…
Just like in our own personal budget, it seems that the everyday expenses of a co-op or condominium building just keep going up. Among the most prevalent cost hikes, as readers surely know, are fuel, salaries, repairs and the price of ma…
Workers’ compensation, according to the New York State Workers’ Compensation Board, is insurance that provides cash benefits and/or medical care for workers who are injured or become ill as a direct result of their job. Employers—an…
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 compa…
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 maintena…
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! The confusion wasn’t surprising; the home-buying process …
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. A couple of years ago, the residents of Boston’s H…
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. Well, almost everywhere. Even in light …
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 per…