After receiving over 4,200 comments on a proposal that would have eliminated flip taxes and transfer fees in co-ops, condos and HOA communities, the Federal Housing Finance Authority (FHFA) has reconsidered its position and will allow …
Drawing up a contract for management services looks at first glance like a simple task. Such contracts usually follow a particular format and outline similar services for both co-ops and condos, regardless of size. But what about contr…
A proposal to ban federal lenders from purchasing loans in co-ops that use flip tax fees or condos with deed-based transfer fees has housing community leaders worried the ruling would lead to diminished operating budgets and severely d…
“...We gather here today at the human resources department of Acme Property Management Company to bring together John Smith, property manager, with the building and board located at 123 Anywhere Street. If nobody objects to this arrang…
One of the most important recurring themes Cooperator readers are likely to encounter in these pages is that of communication; between board and manager, between building administrators and residents, and between neighbors. When commun…
Almost everyone is under pressure these days to save money however they can—and co-op and condo buildings are no exception. Even those associations who are financially solvent and have money socked away for a rainy-day capital improveme…
Mayor Michael R. Bloomberg presented a Fiscal Year (FY) 2011 Executive Budget and an updated four-year financial plan for New York City that calls for $62.9 billion in spending. While the mayor’s attempt to balance the city’s budget res…
In today’s difficult economic times, more and more co-op and condo owners and boards are constantly on the lookout for new ways to improve their bottom line. It’s one of the many reasons that more and more renters are moving into co-op a…
While the majority of co-op and condo communities in New York hire professional management firms to handle their day-to-day operations, many others choose to go the self-managed route, which can include hiring on-site staff or having r…
The Federation of New York Housing Cooperatives & Condominiums recently held a roundtable seminar for board presidents and board members at the New York Hall of Science in Queens. The October 24th event attracted around 50 people and pa…