Most of you have heard about the effect of compounding. This is commonly known and spoken about in investments. According to Merriam-Webster it is “to pay (interest) on both the accrued interest and the principal.” The opposite is true as well. Although not often talked about, the effect of compounded savings, or reduction in expenses can be significant. We helped one association cut one particular expense, which over the next 10 years will save them, using some reasonable assumptions, over $240,000.

Business, ManagementTina LarssonFebruary 13, 2017coops & condos, cut costs, CompoundComment

The unit cost is not even half the battle

Working closely with your managing agent is a great start to cutting costs. The managing agent normally has a great bulk program for both electricity and energy purchases, providing an opportunity for their buildings to switch to ESCOs and reduce unit costs. Although cutting the cost of something the building uses and considers a fixed cost is a great start, it is not even half the battle. Here are 10 tips on cutting heating and electric use.

Heating, Management, ElectricTina LarssonJanuary 5, 2017Energy Efficiency, Electric, Heat, GreenComment

Budget Season is here… with a Vengeance!

It’s that time of the year again. Soon, you will need to inform your owners that their monthly fees are increasing, again. This is in spite of a close to zero inflation economy and owners’ salaries barely (or not) increasing. Despite this, every contract and vendor that the board hires, on owners’ behalf, automatically increases their fees every year.

ManagementTina LarssonNovember 11, 2016Budget, Building ManagementComment

6 Top Resources for New Co-op and Condo Board Members

This is Election Season for most NYC co-ops and condos. You have been recently elected to the board of your co-op or condo, your largest investment: now what do you do? You may be the best Attorney, CPA, Consultant, or Financial Advisor on the planet, but how much do you know about running a building?

Management, BusinessTina LarssonApril 30, 2016Board, Education, Annual MeetingComment

All Time High

New York Residential Property Values are reaching all-time highs, as demand continues to push up prices.

What can current owners do to further increase the value of their buildings, and help them stand out from their neighbors?

Management, HeatingTina LarssonFebruary 7, 2016Comment

The FolSon Group Partners with Spire Group, Inc., Providing FolSon's Cost Cutting Services to NYC Co-ops and Condos

New York, NY, June 26, 2015 (Newswire) -The FolSon Group, a leading financial consulting firm to residential building management teams, is excited to announce a strategic partnership with Spire Group, Inc. Spire is an industry-leading full-service NYC real estate brokerage and consulting firm.