Organizing and keeping a co-op or condo’s books and other records is, on the surface, not that different than keeping a budget for one’s home. But there are many important differences—filing deadlines, tax requirements, reports…
The relationship between boards and management is, by its very nature, a deep and complex one. The two sides rely upon one another to ensure the smooth oversight of their co-op and condo communities. Both are dedicated to doing everyth…
During the real estate boom of the last decades, many new condo buildings used to use extravagant amenities as a tool for new buyers. Marble-top counters, exercise rooms, Jacuzzis, free cars for buyers, childrens' playrooms, computer lo…
Job losses. Bankruptcies. Foreclosures. These are tough times for everyone, but when homeowners fall on hard times, they are often late paying their condo or co-op fees. Some can’t even afford to pay them at all. Add in contractors and …
Almost any veteran property manager can tell tales of buildings that have fallen on rough times thanks to the economic meltdown of the last few years. Some have been beset by multiple unit foreclosures, others are dealing with defaultin…
Everybody sometimes disagrees with the decisions of their co-op or condo board. Maybe the choice to rearrange the garbage receptacles out front seems ridiculous, or the ongoing clattering of machinery on the roof is driving the top-flo…
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 …
Your roof terrace leaked and the neighbor below you sued for damages. The heating system in your apartment failed to work and the managing agent sent you the bill for its repair. You bought a dog for your child, and six months later th…
Helping veterans and newcomers alike to become certified accredited realty managers (ARMs), the New York Association of Realty Managers (NYARM) has been perfecting the skills of those in the field with their School of Property Management…
Your roof terrace leaked and the neighbor below you sued for damages. Do you have any recourse? The heating system in your apartment failed to work and the managing agent sent you the bill for its repair. Do you have to pay? The a…