Most co-ops and condos have a fairly simple financial formula of expenses being matched to revenue. But when a catastrophic event occurs, this calculation explodes. You recently dealt with this at one of your buildings, which you had to bring back from the brink. This co-op is located on the Upper West Side with approximately
THE BIG PICTURE Fiduciary responsibility. That is a concept every board member must understand, if everyone wants to govern responsibly. In simple terms, fiduciary responsibility means that the board must act to benefit the majority of shareholders in every decision that it makes. When a board member is either self-dealing or working on a situation
I took over management of a very high-end luxury co-op on West End Avenue several years ago. At the start of my engagement, the resident manager resigned his position. Shortly thereafter, the handyman resigned. At that point, the board was very concerned about losing two key employees just as a new management company was starting. I told them not to panic,
Setting the Scene I took over management of a very high-end luxury co-op on West End Avenue several years ago. At the start of my engagement, the resident manager resigned his position. Shortly thereafter, the handyman resigned. At that point, the board was very concerned about losing two key employees just as a new management
Where to start, the steps you can take, the little things to remember. From your light bulbs to real estate assessments, Habitat’s key tips to saving money for a rainy (or even sunny) day. By Leslie Jay The key to saving money is remembering that if you don’t invest the time, you won’t make a
