Any major change takes some getting used to and hiring a new management company for your co-op or condo is no exception. Even though you're anxious to ring out the old, you can't help but be a little apprehensive about whether the new com…
Michael Radomsky, on-site manager of a 16-unit prewar cooperative on Park Avenue, was hearing complaints from the residents about unpleasant cooking odors on the landings. To handle the building's problem, Radomsky put matters into the ha…
The certificate of incorporation, the proprietary lease (in some cases called occupancy agreements) and the by-laws are the three underlying documents that form the engine running your cooperative. The by-laws are considered by the courts…
If you've ever served on the board of a co-op or condo, the phrases capital improvements, emergency repair, asbestos remov- al and (these days, especially) lead paint abatement probably elicit particularly unpleasant associations. With ex…
With interest rates heading lower once again, now may be the ideal time to start hunting for a new underlying mortgage. But don't go off half-cocked. Board members who prepare well before entering the mortgage jungle always bag the bes…
Money. We all need it and want more of it. And just like any business your building needs to cover its expenses with its income. There are ways your building can make money without having to raise maintenance fees. Installing basement sto…
Earlier this year, a survey of co-ops and condos indicated a surge of litigation between boards and building residents. Such lawsuits can be very costly for both the resident and the building. One important deterrant to frivolous or unnec…
The initials following a person's name often reveal a certain level of educational or professional achieve- ment. Designations like M.D., D.D.S., J.D., C.P.A. and C.L.U. indicate the successful fulfillment of certain standardized requi…
Co-op boards are more likely to repair a leaking roof or paint the lobby than tackle an elevator that needs to be upgraded. According to elevator expert Al Milo, president of Dunwell Elevator in Brooklyn, which does elevator maintenanc…
Co-op and condo owners whose boards are in favor of adding a rooftop deck, exercise room or play area should think twice before shooting down the idea for fear it will be too expensive. Imagine the time you'd gain in your busy schedule if y…