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Category: Building Operations

Management
2020 August Handling Harassment in Multifamily Housing

Whether you live in a super-luxe Park Avenue co-op in New York City, a beachfront condo in Florida, a sprawling HOA in Nevada, or a multifamily community in the Berkshires, one thing is certain: you have neighbors. Hopefully they’re the peo…

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Insurance
2020 August Insurance Coverage vs. COVID-19

By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the sa…

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Finance
Using Reserves to Cover a Cash Shortage

Reserve funds are a normal - and crucial - component of the budget for any co-op and condominium community. Lenders of all types, whether it be the banking institution that holds the underlying permanent mortgage on an entire co-op building…

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Maintenance
DOB Announces FISP Amnesty Program

The New York City Department of Buildings (DOB) has announced an Amnesty Program for owners of buildings who failed to file a Facade Inspection Safety Program (FISP) report in the 8th Cycle, which ended on February 21, 2020. While most …

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Finance
2020 July The Price is…Right?

Even before the COVID-19 crisis hit, the question of where real estate values were going was the elephant lurking in the corner of the room. Some submarkets (like Florida, for example) were strong—and getting stronger. Others (like New York…

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Finance
2020 July Budgeting in a Changed Landscape

Each year, boards are tasked with figuring out the costs associated with all aspects of their community’s operations, including any capital repairs or improvements they plan to undertake in the coming fiscal year, and then making sure the r…

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Finance
2020 July Coping With Cash Flow Problems

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…

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Finance
Tapping Reserves in a Time of Financial Crisis

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…

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