The first seven months of 2020 have been difficult and uncertain for our country. With the emergence of the COVID-19 pandemic, we are all navigating uncharted waters and doing our best to adapt. Amid this unprecedented challenge, racial ten…
Q. Given the freezes put on evictions and collections during the COVID-19 pandemic, is it legal for a board to give a maintenance increase right now? —Wondering A. “While there is a cor…
Among the many realities made visible (or more visible) by the COVID-19 crisis is the domino theory: when one falls, the others follow. Conceived (and largely disproven) as a political metaphor, the notion has proven more useful when applie…
Q. One of our condo units that the owner was renting out to a tenant is now in foreclosure. But before the unit went into foreclosure, the owner (who has been missing in action) was behind on the common charges and the condo board was tak…
With the expiration of Governor Andrew Cuomo’s moratorium on evictions on June 20, New York’s Housing Courts began hearing new eviction cases on Monday, June 22. How this transition will play out in practice remains to be seen. On one hand…
It’s a question we’re asked all the time: "Can we use reserves to cover an operating fund shortfall?" Under normal circumstances, our standard response would be an emphatic “No!” -- because reserves are for major repair and replacement proj…
As mentioned by this outlet and elsewhere, the New York real estate industry—one of the main contributors to the annual financial tax intake of both the city and the state—has been championing tax relief for owners, landlords, and t…
The Institute of Real Estate Management (IREM) announced in a June 3 press release that the organization’s IREM Foundation has established a COVID-19 Relief Fund to support real estate managers and their local communities affected by the pa…
Editor’s Note: During this crisis, The Cooperator family of publications will be passing along information, tips, and FAQs submitted by our network of industry professionals, including attorneys, managers, and other subject matter experts. …
Following on the sweeping -- and controversial -- Housing Stability and Tenant Protection Act of 2019, the New York state legislature has proposed a bill that some fear could have disastrous implications for residential real estate acro…