First-time condo buyers will be getting a break from the government regarding mortgages. The Associated Press reported Wednesday that the Federal Housing Administration has revised its current guidelines to make it convenient for those…
In the last couple of months, The Cooperator has been covering the recent issues surrounding Housing Development Fund Corporation (HDFC) cooperatives. Among those areas of concern include co-op buildings that were threatened with forecl…
In a fiscal climate plagued with uncertainty resulting from threatened budget cuts at the federal level, New York City Mayor Bill de Blasio released his budget proposals for fiscal year 2018 this past April. The FY18 executive budge…
With the advent of benchmarking and retrofitting programs in New York City and throughout the nation, more condo and co-op properties are becoming knowledgeable about the latest energy technology and its associated cost-savings. They are re…
The first of the month rolls around and it’s time to pay the bills that keep your building operational. Repairs might need to be made, staff salaries paid, maintenance done to keep all the common elements running, and supplies reordered. Th…
The majority of co-op and condo residents pay their monthly maintenance fees on time and in full with no problem. The recent recession, however, changed the picture drastically for residents who found themselves laid off, under-employed, or…
While it's pretty much impossible for a co-op or condo board or employee to commit fraud on the scale of a Bernie Madoff or any one of the herd of shysters who have tromped through the news in recent years, building boards and managers cert…
Q This question relates to vouchers. The management firm of our condo building will not let the unit owners see vouchers authorizing payments. They will only show us their internal ledger book. The Board of Managers does nothing to aid th…
Imagine sitting down with your significant other to pay the monthly bills. You both put your checks into a joint account and know how much there is to take care of expenses, or so you think. Out of his wallet your husband pulls out receipts…
Taking care of a condo or co-op building’s budget and finances is a big job. Handling such large sums of money is an important responsibility, and not every shareholder or unit owner has the expertise to do the job well. Sure, most people k…