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Category: Finance

Finance Relief in Tough Times
2012 October Relief in Tough Times

 The age-old adage from Benjamin Franklin perhaps says it best: nothing is  certain but death and taxes.    And without some assistance on the legislative front, taxes are likely to  increase significantly for New York City co-op an…

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Finance Understanding Operating Costs
2012 October Understanding Operating Costs

In your own household, you have money coming in and money going out. You have things you want to save up for—say, a new cool high-def, flat screen television or the latest iPad. Yet you owe your car company and your creditors. To keep i…

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Finance Flush with Cash
2012 September Flush with Cash

 In December 2008, the National Bureau of Economic Research announced that the  United States was in a recession that had started back in December 2007. The  official announcement was old news for most Americans.    As the dust cont…

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Finance Falling Behind
2012 September Falling Behind

Wait a second. You say you bought your apartment, but you don’t own it? Huh?” Explain the concept of the cooperative apartment —you buy shares of a corporation and then rent the apartment to yourself—to a homeowner outside of Ne…

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Finance Mayor's 2013 Budget Plan Unveiled
2012 July Mayor's 2013 Budget Plan Unveiled

 Mayor Michael R. Bloomberg recently released the New York City Executive Budget  for the 2013 fiscal year. While the mayor lauded the $68.7 billion plan as a “balanced budget with no tax increases,” the City Council believes the prelimina…

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Finance Understanding Your Finances
2012 July Understanding Your Finances

 For a crystal-clear picture of how a co-op board or condo association is doing,  there are few better lenses than the community's budgets and financial reports.  From an investment perspective, they show the association board, property  m…

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Finance Cash-Strapped?
2012 July Cash-Strapped?

Money is a topic some people are skittish about discussing. When you’re a board member or the managing agent of a residential co-op or condo building however, there’s no benefit to skirting financial realities just because they may be di…

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Finance Tax Fight in Queens Continues
2012 June Tax Fight in Queens Continues

 Many regular readers of The Cooperator doubtless remember the struggle that  ensued in the spring of 2011 when co-op officers and elected officials in  Eastern Queens declared a “tax revolt” against the city for huge increases in assessed…

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Finance Home Ownership and Mortgage Woes
2012 April Home Ownership and Mortgage Woes

 The leading factor responsible for the Great Recession—fraudulent mortgage lending—remains a thorn in the side of the nation’s fledgling economy. It started with the false promise of home ownership to many  susceptible, under-financed peo…

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Finance What's in Your Wallet?
2012 March What's in Your Wallet?

 Unless it's a thoughtful gift or a party in their honor, nobody likes surprises.  That's especially true when it comes to sudden, serious, or non-negotiable  repairs to a co-op or condo building. A building community must have enough  mon…

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