2008 Oct
Focus on... Board Operations

Until recently, Claudia Tracey worked full time in a position that required an extensive amount of travel. At the same time she was, and still is, board president at Hampton Vistas Condominiums in Manorville, New York, which just went th…

Most co-op and condo boards that hire managing agents, rather than manage themselves with in-house staff, are reasonably satisfied with them. After all, the managers are presumably trained and experienced professionals. But now and …

Any relationship depends upon effective communication to function properly. In a co-op or condo, the relationship between the board and managing agent, or between the board and the shareholders, all have boundaries regarding what is acce…

Nowadays people are using their computers to connect to the Internet for just about every facet of their lives. Whether it’s buying cheap airline tickets, making reservations at their favorite restaurant or connecting with old friends on…

Like telling kids the awful truth about Santa Claus or deciding to spend the holiday bonus on treasury bonds instead of a trip to the Bahamas, sometimes we all have to say or do unpleasant or unpopular things. The same is true for co-op …

Real estate in the Big Apple like any large metropolis is expensive, and that often means making due with a small apartment. Small spaces present many functional and aesthetic problems—lack of storage, oppressive walls, etc. Fortunately,…

In today’s economic climate, many of the city’s co-ops and condos have begun to feel the pinch as they struggle to pay their bills. Often, buildings are forced to raise maintenance fees to make ends meet. And while maintenance fees or sp…

Though many co-op buildings forbid subletting for an array of reasons, some co-op (and many more condo) buildings have populations of rental tenants residing in them. The arrangement is mostly peaceful and drama-free, but friction does o…

Co-op boards are often faced with difficult judgment calls; on the one hand, it’s the duty of board members to safeguard their fellow shareholders’ investments and overall quality of life. On the other hand, they must carry out that duty…

These days, there’s no shortage of articles in magazines, newspapers, and online about how time-crunched most people feel. Between work, family obligations, long commutes, and a vast array of other factors vying for attention and precio…

Gone are the days when you could give your kids some coloring books or Legos and expect them to amuse themselves for hours. Nowadays, play spaces and children’s amenities have become crucial aspects in the marketing and sales of New York Ci…

This year, the Institute of Real Estate Management (IREM) is celebrating its 75th anniversary. For three-quarters of a century now, IREM has provided education, resources, information and membership to real estate management professional…

Although it is frequently assumed that cooperative boards of directors are totally responsible for all building decisions, typically they are assisted by a large group of professional consultants who not only guide them but also sometime…

We’ve all heard that “first impressions are important” when meeting people; so too with buildings. A potential buyer’s or visitor’s first impression often determines their opinion of the building and its apartments and has a dramatic imp…

Ever since New York City was New Amsterdam, landlords have made extra money by converting unused space in their buildings into residential lofts. While many apartment-seekers gravitated toward these conversions, artists, bohemians, and o…

We are all taught to “Look at the Big Picture.” That was a common phrase back in the 1980s when managers focused on how their actions resonated with the mission statement and goals of the corporation; whether that corporation was IBM, th…

It’s a pretty name for a pretty neighborhood. Located in the southern end of Brooklyn, Carroll Gardens has long been a destination for those in search of a little greenery to go with their city living. With its park, its tree-lined str…

Q The co-op my mother lives in, in Queens, has a unique way of saving on heating expenses. First, from October to May, maintenance fees are raised for the fuel used during those months. Secondly, the heat is shut off completely at night. …

Q The co-op I live in has its own parking. Even stockholders must purchase a parking pass if they wish to use the lot. In order to make it convenient for my son to visit me, I bought him an annual pass to the parking lot. My son is an adu…