Buying an apartment, whether co-op or condo, is one of the most significant financial decisions you'll make in your life. It's a thrilling and rewarding experience, but it can also be overwhelming if you're not well-prepared. To ensure that you make the right choice and find your dream home, there are several crucial factors you need to consider. In this five-part blog post, we'll explore the top five factors to keep in mind when purchasing a home.
Read MoreWelcome to our insightful guide on building a strong partnership between co-op and condo board members and their Resident Manager or Superintendent. In the unique landscape of cooperative and condominium living, collaboration and mutual respect are essential for creating a harmonious environment. By understanding that you're all in this together and fostering a sense of togetherness, you can establish a foundation of trust and cooperation. This article provides five valuable tips to help you navigate this dynamic relationship, ensuring that your super feels valued, appreciated, and supported as a vital member of the co-op or condo community.
Read MoreWhen it comes to managing capital projects in a co-op or condo building, the board’s decision to hire an outside project manager or owner's representative (aka Owner’s Rep) instead of relying on the property manager can have several advantages. While property managers excel at overseeing day-to-day operations, the complexities of capital projects often require specialized expertise and dedicated attention. In this article, we will cover some of the pros of hiring an external professional for managing the building's capital projects.
Read MoreLocal Law 97, part of New York City's ambitious Climate Mobilization Act, is set to revolutionize the way buildings in the city approach energy consumption and carbon emissions. Co-op and condo owners, as well as their building’s boards, need to familiarize themselves with the critical dates and fine structure outlined by the law. Because we are frequently asked when the fines start, this article has a clear breakdown of the important dates for annual fines and how they will be calculated, enabling building owners to plan and take action towards compliance.
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The responsibilities of a Resident Manager or Superintendent in a co-op or condo where there's a board representing the owners and run by a third-party property manager, can vary depending on the specific building and its management structure. Most board members’ knowledge of how their building operates is limited, which makes their working relationship with the super and property manager crucial. It is therefore important to understand their responsibilities.
Read MoreA co-op or condo association is more than just a group of homeowners living in the same building. It's a business, and it should be treated as such. One of the most important aspects of managing a co-op or condo association is having a formal nomination process for board members that is communicated to the community in advance.
Read MoreIf you're on the board of a building in New York City that is greater than 50,000 square feet, you might be wondering how to comply with and not break Local Law 97's new emissions standards without breaking the bank. The good news is that you might have already taken a step towards compliance without even realizing it.
Read MoreHeat pumps have become increasingly popular as an eco-friendly and energy-efficient way to heat homes, but there is a common misconception that they don't work well in cold weather. Recent articles in the New York Times and the NY Post have added to this confusion, but the truth is that heat pumps are more than capable of functioning in cold climates, and this has been proven in countries like Sweden, Norway, and Finland. In these countries, heat pumps have been used extensively for many years and have been found to work efficiently even when temperatures drop below freezing.
Read MoreNew York City's Local Law 97 is set to go into effect in 2024 and is aimed at reducing carbon emissions from buildings over 25,000 square feet. To comply with the new emissions standards, building owners and operators need to start preparing now. Here are the top 5 tips on how to get your building ready for Local Law 97:
Read MoreAs the weather starts to warm up, many people are getting ready to bring out their bikes for the season. For those living in co-op and condo buildings, this can pose a challenge when it comes to storing their bicycle, unless the building has a proper bike storage space. Although CitiBikes are the preferred choice for team Folson Group, it is not for everyone. Adding a bike storage room creates an extra amenity that increases property values.
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