Page 3 - CooperatorNews NY January 2021

COOPERATORNEWS.COM COOPERATORNEWS — JANUARY 2021 3 TABLE OF CONTENTS Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Senior Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Alan J. Sidransky Staff Writer Peter Chase Director of Sales Fred Marks Director of Sales CooperatorNews is published monthly by Yale Robbins Publishing LLC, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner associations. POSTMASTER: Send address changes to CooperatorNews, 205 Lexington Ave., New York, NY 10016. ©Yale Robbins Publishing LLC 2021. All rights reserved. Application to mail Periodicals postage rates is pending at New York NY. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: cooperatornews.com/subscribe M C ..................... The day-to-day life of a property manager—while not quite as predictable as that of, say, an accountant—does revolve around certain cyclical tasks, like building inspections, staff meetings, and keeping boards informed of what is going on with various projects in their buildings. That’s not to say that there isn’t an occasional emergency, of course; a boiler fails, a visitor slips and falls, a vendor doesn’t deliver. ties themselves. I T .................. . Buildings are in many respects like cars; they’re a synthesis of a number of mechan- For many buyers, a key factor in deciding to purchase a home in a residential com- ical systems with lots of moving parts. To keep a car running at peak performance, it requires regular maintenance: oil changes, engine tune-ups, regular emissions inspections. Buildings are the same. If a boiler is not properly maintained, its effi- ciency drops, and heating costs increase. S -M S T ......... .. While many condominium associations and co-op corporations hire professional property managers or management firms to handle the routine (and not-so-rou- tine) tasks involved in running a multifamily building or HOA, a significant number take the opposite route, eschewing formal management and running their proper- S P . S D ...... . munity rather than opt for private, single-family ownership is often the appeal of amenities that come with condo, co-op, and HOA living—pools, gyms, clubhouses for social activities, and even on-premises restaurants and retail shops being only a small sample. P ...... Q A...... 3.096 8.19 7.47 3.51 8.289 3.51 8.5789 8.2755 6.966 7.5735 7.4115 6.684 3.12 9.1346 10.2544 10.6383 11.3779