Page 3 - CooperatorNews New York January 2022

COOPERATORNEWS.COM COOPERATORNEWS — JANUARY 2022 3 TABLE OF CONTENTS Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Managing Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Alan J. Sidransky Staff Writer CooperatorNews is published monthly by Yale Robbins Infomedia, 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 Infomedia 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 Management Contracts 101 ..... 1 There are elements of board service that can vex even the most committed, most intrepid The coronavirus crisis has forced many unwelcome changes on households around the volunteer—and negotiating a building’s management contract is probably at the top of that list. What Size Management Company Is Best?...... . 1 Co-op and condo communities come in all shapes, sizes, and configurations. They range from three-unit, wood-frame houses to high-rise apartment buildings containing hun- dreds of units, to sprawling townhouse communities in park-like settings. Like these communities, firms specializing in their management and operation can be large or small, generalist or boutique. The question for boards, shareholders, and owners is, what progress and untold sacrifices. type of firm is right for you and your community? The State of the Management Nation .... 1 Like just about every other occupation on the planet, property management has been profoundly altered by the coronavirus pandemic and the changes it’s brought to society at large, with many of the challenges and stressors we’ve all had to face hitting residen- tial management industry professionals especially hard. ‘Pandemic Pets’ in Multifamily Communities.... 8 world—but it has also allowed or inspired some to make lifestyle choices that were impractical or otherwise out of reach before. One such choice has been to acquire a pet. The Year in (P)Review.... 10 Remember in 2020, when everyone was so excited for 2021, “when all of this instability and uncertainty will be over”? Right. Well, while there was some relief from pandemic pandemonium as Americans started to get vaccinated against COVID this past spring and summer, the virulent delta variant threatened to override the country’s hard-won E XPE C T THE E X CEPTIONAL Elevating Property Management Through Personalized Service The right management partner will improve the service your residents see, elevate your property values, and make the most of your investments. That starts with understanding your unique needs and creating a customized plan to address them. Get the exceptional service you and your residents deserve now. Contact AKAM at 212.986.0001 or info@akam.com to explore how AKAM can manage your property so you don’t have to. AK AM. C OM Pulse...... 4 Q&A...... 5 From the Web...... 6 Service Directory...... 18