"¢ Borrower must be age 62 or older "¢ No monthly payment is required "¢ Must obtain co-op board approval in most cases "¢ Proceeds can be used for any purpose "¢ No financial reports, credit history or medical reports …
The primary function of a board of a co-op or condo is to operate, maintain, repair and preserve the common property. The board also has a responsibility to maintain the value of the property. Most boards develop an annual operating b…
Say the words "80/20 rule" to a New York City co-op board, and you may be met with groans and furrowed brows. A provision in Section 216 of the Internal Revenue Service (IRS) tax code, the 80/20 rule limits the amount of commercial revenu…
With today's uncertain economy and the prices of everything from gas to insurance on the rise, maintenance increases may be on the horizon for thousands more co-op and condo owners this year. Shelling out money is never a pleasure, but tho…
New York City has been in the midst of a real estate boom for the last several years. Even with the economy in recession and the lingering effects of 9/11, homeowners have seen their apartments double, even triple in value in as little as …
Cooperative buildings should be run like businesses, with prudent investing and organized budgeting practices in place. As many buildings that have been on the brink of financial disaster can tell you, if you ignore these aspects of runnin…
In an age where regulation, accreditation and membership matters, being affiliated with a recognized professional association is almost a business necessity. More than just a meeting place for like-minded individuals to discuss the topics …
Floor coverings have come a long way in the past decade. Where once wall-to-wall carpeting was bland and there were few options to choose from, now there are a multitude of colors and designs to select from, and one of the best ways to dre…
Nothing beats a good first impression. That's why a building's lobby can be the most important space when it comes to keeping residents happy and property values competitive. When lobbies begin to decline, it's bad news for everyone …