Holding regular meetings is one of the most essential tasks of a co-op or condo board, because that’s where the building’s policy is formed, where business decisions related to the community are made and usually where administration of …
Co-op and condo board members are generally volunteers who live in their building and give of their time and expertise to help make sure their home is well-run, and their investment protected. In a perfect world, new board members are a…
For any co-op or condo in New York, there are certain types of insurance that they cannot live without. Generally those include: property, liability, umbrella, D&O (with employment practices liability (EPL) insurance embedded in the co…
Recently, a 36-year-old New York City restoration contractor was charged with multiple counts of workers’ compensation fraud and falsifying business records. He was hired as a sub-contractor, but he allegedly submitted three fraudulent …
Mold—it’s an ugly four-letter word in more ways than one. Nobody wants to think about the fact that this fungus can be found anywhere where water leaks or drainage problems are present. Mold can cause serious damage to a co-op or condom…
Many directors serving on the boards of co-ops and condominium communities assume that once they have secured the appropriate coverage for their properties, their problems are largely over. Unfortunately, problems in the insurance mark…
While the grid of streets and avenues may remain rigid and unchanging as the years go by, New York City’s neighborhoods are organic entities, constantly shifting and evolving as new features emerge and old ones fade away. Nowhere is thi…
Though often responsible for millions of dollars in property and charged with the oversight of complex building functions, few co-op/condo board members are real estate professionals. Board members are resident volunteers who come from …
Inefficiently-run board meetings are time-wasters that can make even the most enthusiastic board member cringe at the thought of an upcoming session. By contrast, a well-run board meeting can be a productive hour or two that benefits t…
Most co-op and condo residents understand that there is a board protecting the interests of their building community and individual owners—they’ve probably taken part in numerous board elections, or even served on committees, or volunte…