Don’t settle for surface-level solutions.

No one likes to get hit with a huge cost that puts a dent in your co-op or condo board’s budget. A large repair or construction project could dip into the board’s reserves or even impose a special assessment. It’s understandable, then, when board members hesitate to make such big changes and instead opt for “band-aid” quick fixes. However, pushing out major repairs in favor of cheap, temporary solutions only delays the inevitable and costs the board more long-term, not to mention the increased likelihood of the cheap repair spontaneously going bust. Consider if your board is putting band-aids on these issues:

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Sun’s out and school’s out -summer is officially here! Maybe you’re heading to the Hamptons every weekend or are planning to lounge on your building’s roof deck (aka concrete beach). If you’re a co-op or condo board member, you should also be planning for higher utilities costs. New York City had its hottest summer in 2020, and 2021 is looking no different. That’s why it’s vital to have quality HVAC systems that keep residents comfortable in common areas. Increased electricity costs can be painful, so we have some tips to help increase your A/C efficiency and decrease your costs:

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“The teacher doesn’t like me!” Unfortunately, when it comes to New York City energy efficiency grades, that excuse won’t apply. New York City’s Local Law 84 of 2009 (and its amended Local Law 133 of 2016) requires buildings to check their energy and water usage annually and submit the data to the Energy Star Portfolio Manager website, which calculates a score. Then, the Department of Buildings (or DOB, for short) assigns a grade to be posted outside the building:

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We’ve all been there: You’re in the subway and become riveted in Candy Crush, only to realize you’ve missed your stop. If you’re one of the 45% of New Yorkers who drive, you know the feeling of the dreaded wrong turn or missed exit. These may be trivial examples, but they represent many common occurrences that frequently put us into “crisis mode,” seeking to quickly get back on the right track and minimize time-cost of becoming too late.

If you feel like you’re constantly putting out fires, you might be running your co-op or condo building in reactive mode.

Here’s how to crawl of out crisis mode and stay ahead of the game in the future:

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Congratulations! You have just welcomed a new member to your co-op or condo board. Hopefully their skills, ideas, and experiences can add a fresh perspective to meetings and contribute to the board in exciting new ways. As many co-op and condo residents know, serving on the board can be a big time commitment and feel like a thankless part-time job. That’s why it’s important to make new board members feel welcome and informed. Read more here =>>

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Residents of co-op and condo buildings know that maintenance fees only move one way - up. From laundry rooms to elevators to electrical systems, there is always something that seems to be in need of repair. That’s why their boards are constantly looking for ways to cut costs, or, at the very least, prevent existing expenses from increasing.

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Being the president of the co-op or condo board can not only feel like a thankless position, but in many ways like a one man show. The president has the final signature, and while the entire board may technically be responsible for certain aspects of the running of the board, the final responsibility (or ‘fault’ depending on your outlook) often rests on his or her shoulders.

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Is your Association simply a business enterprise . . . or is it a community? Of course, it’s both. So along with news of important financial decisions, your Co-op, Condo, or HOA Board would do well to share ideas that will enhance the community’s sense of well-being.

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Even though energy efficiency has been discussed for decades, it is only in the last few years that it is starting to gain traction. In New York City, the various energy laws and programs were launched during the Bloomberg administration. The first such law was Local Law 84, or benchmarking. The objective when this began in 2009 was to measure and gather data and then use that data to reduce and conserve.

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