Page 15 - New York Cooperator February 2019

COOPERATOR.COM THE COOPERATOR — FEBRUARY 2019 15 “We are proud of the role we play in helping our New York condo and co-op clients achieve their goals.” — David Byrne (djb@ansellgrimm.com) CONTACT US TO SCHEDULE A CONSULTATION 1 (800) 569-3886 DJB@ANSELLGRIMM.COM WWW.ANSELLGRIMM.COM CONTACT US TO SCHEDULE A CONSULTATION WE REPRESENT CONDOMINIUMS & CO-OPS IN ALL OF NEW YORK CITY’S 5 BOROUGHS ers send in monthly payments for main- tenance and common charges, and bills whereas a managing agent’s job consists must get paid out of those collected of bookkeeping, compliance, closings, funds. This recurring item is handled by complaints, and inspections – a self-man- the management company’s bookkeepers, agement consulting firm finds sources who work hand in hand with other man- agement company employees to make erties and sets up systems to track and sure a property has everything it needs manage them. Records and documents to function – from paper towels to light are kept in the cloud to reduce or even bulbs to cleaning supplies. There are also non-recurring or occa- sional items like various building inspec- tions; supervision of occasional work or for the self-managed association or cor- scheduled projects for improvements; poration, such as building links, etc., as and ownership transfers for units. The part of an overall plan. managing agent has the responsibility of overseeing these things as well. Effective Self-Management All those responsibilities sound like this very small and intimate association, a lot of work – and they are. In a large he was both a resident and board member complex of units where owners share the at Park West Village, a large and estab- management fee at affordable levels, it’s lished co-op on Manhattan’s Upper West pretty clear that it's well worth it to have professional management. But are there alterna- tives for smaller properties? Tina Larsson is the Co-founder of The Folson Group, a New York City- based company that helps co-op and condo prop- erties self-manage effectively. “We set up policies,” she says, “the same way a managing agent for the common areas. Our maintenance does. How do we vet contractors, for in- stance? Managing agents have requests- for-proposals, or RFPs. We set up some- thing similar, only easier and simpler. We Google, which can be viewed by anyone guide the client on how to use this sys- tem. It’s specific to the work to be done. We also direct them to resources like The Cooperator , where they might find what of the association works from home, so and who they are looking for.” And what about the idea that manag- ing agents who represent multiple prop- erties have purchasing power that indi- vidual properties don’t? Larsson says it’s tainer, but if we need legal services, we not true. “Purchasing power – managing have someone we can call.” agents say they have it, but if you call a specific vendor, you can ask for the same large co-op and a small condo, Emmers discount the managing agents get, and says: “Living in a big building is easier. In most of the time you’ll get it too.” Larsson's firm also offers its clients would like more help, but everyone is so a thorough review of their expenses – collegial that it makes me feel good about something a managing agent generally doing things.” doesn’t do. The firm searches for ways to save money and earns its fee based on those savings. Larsson explains that for these services for self-managed prop- eliminate the need for off-site storage of paper documents and files. Consultants will also often set up online applications Real Life Keith Emmers lives in a four-unit con- dominium in Brooklyn. Prior to living in Side. “This is a totally different experience,” he says. “A small build- ing is totally ad hoc. “We hired the clean- ing woman of one of the owners to clean the hallways once a week. That unit owner pays her, and we reimburse the unit owner. Each unit has its own HVAC, so there’s a very small common area utilities which we pay together. We also have a cable bill for fire monitoring payments go into a common account from which the association treasurer pays the bills. We keep a spreadsheet on in the group. “Responsibilities are divided up among us,” Emmers further says. “The president when we need someone here for an in- spection he usually covers. To date, there haven’t been any conflicts. Everyone gets along. We don’t keep an attorney on re- Comparing his experiences in both a a small building there are times when I In an interesting twist, Kathy Ryan “In a small building there are times when I would like more help, but everyone is so collegial that it makes me feel good about doing things.” —Keith Emmers continued on page 21