New York City's push towards a more sustainable and environmentally responsible future is taking a big step forward with the implementation of Local Law 97 (LL97), which sets strict carbon emissions limits for large buildings in the city. The law has sent shockwaves through the real estate community, with many coop and condo boards scrambling to understand its requirements and avoid potential costs and penalties.
Read MoreThe tragic collapse of Champlain Towers South in 2021, which claimed the lives of 98 people, serves as a poignant reminder of the importance of proactive management in co-op and condo buildings. Rather than relying on band aid solutions to address problems as they arise, boards must take a proactive approach to planning and decision-making in order to protect the safety and well-being of all residents.
Read MoreAre you tired of feeling overwhelmed by all the tasks on your plate as a co-op or condo board member? Do you wish there was a simple way to prioritize and manage your time more effectively? Look no further than the Eisenhower Box - a tried and true productivity tool that can help you get more done and make the most of your time.
Read MoreAs co-op and condo owners and boards focus on sustainability, along with environmental, social, and corporate governance (ESG), and avoiding fines under Local Law 97, electrification can be a smart solution. It involves replacing carbon emissions-producing heating, ventilation, and air conditioning (HVAC) systems and appliances with those that run on electricity. The Inflation Reduction Act and Rewiring America initiatives can help low and middle-income New Yorkers electrify their apartments and buildings at reduced or even no cost. Here are four tips for co-op and condo owners to make the most of these opportunities:
Read MoreHave you ever wondered what goes on behind the scenes of writing and publishing a book? In this blog post, we'll take a look at the process of creating "Living the High Life: How smart co-op and condo owners protect themselves and their investment." Read on to see how it was done and if you are thinking of writing a book, you might get some valuable takeaways from this experience.
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If you're a co-op or condo owner in New York City, you may be wondering how to find out who is on the board of directors for your building. The board of directors is responsible for making important decisions that affect the building and its residents, so it's important to know who they are and how to contact them. In this blog post, we'll provide a guide on how to find out who the board members are for your NYC co-op or condo building. We'll cover a few different methods for getting this information, so you can choose the one that works best for you.
Read MoreYou bought an apartment in a co-op or condo, congratulations! After living there for a while, you start noticing “things” that you think would make the building an even better place to live. They may even increase your property value. When you have a wish-list for your building and have decided to nominate yourself to your co-op or condo board, running as a group with a majority matters. Here’s why:
Read MoreNew York City co-ops and condos are facing staggering annual fines as part of Local Law 97 of the Climate Mobilization Act if they do not reduce their energy use and carbon emissions. Retrofitting your building to make it greener and more sustainable is a huge and expensive project. When you hear that you can remeasure the building at a very reasonable price tag, this naturally sounds very appealing. The question is, do the benefits outweigh the risks?
Read MoreWith inflation and skyrocketing energy prices, co-op and condo boards are struggling with the cost of heating their building. Now is more important than ever for New York City co-op and condo boards to understand the difference in how much they pay for energy versus how much they use. Property management firms often recommend that their coop and condo clients enter into energy supply contracts to lock-in their rates. We are proponents of instead reducing how much you use.
Read MoreWorking with property management firms in New York? Here are some debt collection tips for vendors who do work for multifamily owners, including coops and condos, when it comes to working with property managers.
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