There are two ways—and only two ways—to balance a budget: increase revenue or decrease spending. Whether you’re the treasurer of a co-op board or the President of the United States, those are the only two levers at your disposal. Ene…
It’s hard to believe that recycling was a pretty novel concept not too long ago, especially for municipalities. In the 1970s and ‘80s, local governments started to establish recycling programs due to rising energy prices and a growing conc…
With today’s condo and HOA residents much more conscious of their impact on the environment and looking for ways to reduce it, smart boards and property managers are looking to help. Simple tasks like turning down thermostats, shutting off…
Every year the cycle repeats itself in co-ops and condo communities in New York City: as temperatures drop and snow begins to swirl, flocks of empty nesters and others fortunate enough to own a second home in a warmer climate pack up and h…
A cold, wet spring turned quickly into a hot, humid summer rife with thunderstorms and localized flooding throughout the northeast. As autumn starts to paint the region’s foliage, building community and association boards and managers are …
With natural disasters causing catastrophic property damages becoming more common, associations must be prepared for unexpected expenses, such as a major roof repair, or the installation of a new heating and cooling system. These major cap…
It’s no secret that lawsuits are expensive, acrimonious undertakings that can severely erode both the finances and morale of building communities. When a disagreement between a resident and the board escalates into a serious dispute and th…
Stretching from upstate and leading all the way down to the Big Apple, New York City’s water system truly is a modern marvel. The system, which includes huge supply tunnels, makes it possible for millions to live and work in New York City.…
Of all the responsibilities that come with being a board member or manager of a residential building, few are as important as ensuring the safety of your residents. Making and clearly communicating emergency plans, marking entrance/egress …
Running a co-op, condo or HOA is a business, and like most businesses, proper budgeting is the key to financial health. Just like businesses, associations usually have two separate yet vitally important budgets. The first budget is the day…
Residential buildings are constantly under attack—not by barbarians or marauding bandits, but by a force far more subtle and insidious. The most tenacious enemy of a residential building is not fire or structural collapse—though a building…
When most people think of a buying and owning a co-op or condo apartment, they're picturing a unit in a mid- or high-rise building, or possibly a townhome in a suburban development. While that's certainly the most typical format for apartm…
Mom was right. Her admonition to “Turn out the lights when you leave the room!” is as valid today as it was a generation ago. And yet many co-op and condo buildings, while energy-conscious in so many ways, seem to feel it’s better to just …
In March 1947, a group of nearly 600 onlookers gathered on the sidewalk in front of the home of bachelor brothers Homer and Langley Collyer on Fifth Avenue and 128th Street in Manhattan. Residents of the neighborhood had speculated and gos…
Saving money is always a top concern of any co-op or condo board, but with tough economic times and high fuel prices, saving on energy costs can be a challenge. Thanks to deregulation of the New York energy market a little over a decade ag…
Going about the course of our busy lives we may take for granted the sense of safety and security we have when we enter our office building in the morning or our apartment building when we arrive home at night. We don’t think twice when so…
There has been much discussion recently about the antiquated New York Labor Law 241 and its effect on the availability and cost of insurance coverages for contractors. The fear is that smaller contractors will get priced out of purchasing …