Have you ever considered the potential ramifications of recent mandates on the territory of New York City co-ops and condos? Let's delve into the intricate world of the prevailing wage mandate. If you're a board member in a union-affiliated co-op or condo, this may or may not have an effect on you. However, for those in non-union buildings aspiring to retain their property tax abatement, this is a development you can't afford to overlook.
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As unpaid co-op and condo board volunteers, time is a priceless asset that we must utilize wisely. Understanding the true value of time empowers us to seize every moment and accomplish our objectives efficiently. Read five invaluable tips tailored to help you free up your precious time and make the most out of your commitments.
Read MoreSub-metering in master-metered buildings simplifies billing and brings brighter prospects for energy efficiency. Most co-op and condo owners in New York City are either directly metered by ConEd, or already sub-metered. However, there is still a small percentage of buildings that are master-metered. Those buildings need to install sub-meters before January 1, 2025 to comply with Local Law 88. This law was passed in 2009 as part of the Bloomberg administration’s Greener Greater Buildings Plan.
Read MoreEven if you plan to make your new apartment your forever home, it's essential to think about its resale value and investment potential, especially if you're contemplating renovations. Real estate markets can be unpredictable, making it wise to choose a property that has the potential to appreciate over time. Factors like location desirability, nearby amenities, and upcoming developments can influence a property's long-term value, along with beautifully renovated interiors. In fact, kitchen and bathroom renovations are known to significantly impact a property's appeal, according to many real estate brokerage articles. To gauge the investment potential of the homes you're considering, research market trends and seek advice from real estate professionals.
Read MoreWhile house hunting, carefully evaluate the condition of the properties you visit. Consider aspects such as the age of the building, structural integrity, potential maintenance or renovation needs, as well as what energy efficiency letter grade the building has. In this article, we'll guide you through the process of assessing property condition, identifying potential issues, and unlocking the possibilities that lie within the building itself as well as the apartment. By the end, you'll be equipped with valuable insights and expert advice to help you navigate the property condition and potential in your co-op or condo hunt.
Read MoreDiscovering the perfect size and layout for your dream apartment is essential for a space that caters to your needs and lifestyle. Join us as we unravel the secrets to finding your ideal place, considering preferences like open concept designs, outdoor spaces, and home offices. Evaluate storage options and future customization potential to make an informed decision.
Read MoreUnderstanding the differences between a co-op and condo is crucial when making a decision that aligns with your lifestyle, financial goals, and personal preferences. So, let's explore - What’s the difference between these types of homes?
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How much can you afford to pay for your dream apartment? Before you begin your home search, it's essential to assess your financial situation and determine your budget. In this article, we will guide you through the crucial topic of Budget and Affordability, helping you navigate the complexities of financing your new home. Let's uncover the truth about budgeting and affordability in apartment buying, providing you with practical tips along the way.
Read MoreBuying 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.
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