Your Guide to Compliance
Welcome, Manhattan Coop and Condo Board Members! In the sphere of urban architecture and safety regulations, New York City sets the standard with its stringent building codes and standards. As stewards of your community's safety and integrity, understanding these regulations, particularly the Façade Inspection Safety Program (FISP), is paramount. This informative explainer is tailored just for you.
An Energy Efficiency Consultant’s Guide
As the days are slowly getting longer and the imminent arrival of summer, coop boards in New York City find themselves at a pivotal juncture. Now is the perfect opportunity to ensure their Heating, Ventilation, and Air Conditioning (HVAC) systems are ready to combat the sweltering heat that characterizes NYC summers. Whether it's the hum of central air conditioners or the whir of through-the-wall units, energy efficiency consultants play a vital role in assisting co-op boards in navigating this seasonal transition. Let’s explore the ins and outs of heating and air conditioning in NYC buildings.
Elevate Your Building for a Successful Year Ahead
As we step into a new year, it's a perfect moment to reflect on the strides made and to look ahead with optimism. Your coop or condo isn’t just a building, it’s a community, a home, and an investment. Beyond being a mere chronological transition, a new year signifies a fresh start upon which our lives, experiences, and aspirations will be woven. This year also signifies the effectiveness of Local Law 97, which makes this year an especially transformative moment for your coop or condo. Using various tools when crafting a more promising future for your building is more important than ever.
Is a Reverse Mortgage Right for You?
Considering a Reverse Mortgage in your coop? Your Questions Answered!
Making financial decisions, especially concerning your coop in the vibrant landscape of NYC, can be overwhelming. For many coop owners, considering a reverse mortgage can open doors to financial flexibility. Yet, the crucial question lingers: Is a reverse mortgage in NYC coops the right choice for you? In this article, we delve into this important inquiry through common questions and expert insights.
How to Show Gratitude to Your Building Staff
'Tis the season for giving, and what better way to show appreciation than by tipping your building staff for their year-round service and dedication? The holiday season is a perfect time to express gratitude to the hardworking individuals who keep our coop and condo buildings running smoothly. At The Folson Group, we understand the importance of fostering a sense of community within your NYC coop building.
The Persuasion Playbook
Ever found yourself navigating the tricky waters of a coop board with that one steadfast but hesitant volunteer? Picture this: a decision hangs in the balance, and despite the collective will of the board, this one individual assumes/ possesses the power to halt, delay, or even stop progress. It's the classic tale of one person holding the reins, creating a dilemma that echoes throughout the entire boardroom. Let's unravel the challenges of breaking through the hesitation barrier for the greater good of your coop owners.
5 Steps to Proactive Coop and Condo Board Management
In the busy landscape of coop and condo board management and responsibilities, the tragic incident at Champlain Towers South underscored the critical need for a proactive approach. Learn how adopting a proactive mindset can not only enhance the safety and well-being of residents but also create a positive living environment.
What’s Entailed in Getting a Reverse Mortgage?
Navigating the complex world of mortgages in New York City's co-op buildings can be daunting, but a reverse mortgage offers a unique financial solution. If you're a co-op owner in NYC considering this option, it's crucial to understand the intricacies involved. Here’s a comprehensive guide to demystify the process of obtaining a reverse mortgage in your coop NYC.
A Key to Volunteer Success
In the fast-paced world of New York City, effective time management is a crucial skill for volunteer board members in coop and condo buildings. As you navigate the complex responsibilities of ensuring building safety, compliance with Local Laws, and the well-being of your community, this listicle will provide a comprehensive guide to help you optimize your time and achieve your objectives. Read on as we dive into the world of time management and we’ll equip you with the tools to excel in your role as a volunteer board member.
Navigating Rising Costs
As the school year has kicked off and the holiday season approaches, co-op shareholders and condo owners in NYC are bracing for the annual increase in their monthly fees. This financial challenge is particularly daunting in an economy marked by high inflation and stagnant salaries. In the midst of these economic concerns, the coop and condo boards must also grapple with vendors and service contracts that annually hike their fees.
How They Affect Your Co-op or Condo
Let’s delve into a crucial topic that directly impacts the well-being of your building: HPD (Department of Housing Preservation and Development) violations in the heart of Manhattan, NYC. Get ready to explore the what, why, and how of these violations and how they can affect your community.
New-Gen Boards Transform Apartment Living
In the heart of Manhattan, a new era is dawning for co-op and condo boards, a generation of leaders eager to redefine the landscape of their residential communities. They are not mere custodians of emergencies but champions of proactive, sustainable, and safe living. It's a refreshing shift that's rewriting the rules and creating a vibrant tapestry of change in New York City's housing landscape.
Exploring 5 Financial Advantages
Living in a co-op in the heart of the city comes with its own set of challenges, especially when it comes to managing finances. However, there are good news. Co-op reverse mortgages offer a unique financial solution, providing homeowners with several benefits that can transform their financial outlook. Let’s examine how a reverse mortgage for your Coop NYC can benefit you.
New Parapet Inspections for NYC Coops and Condos
Can you believe that New York City coops and condos have yet another law to follow? In a city known for its complex web of regulations, Local Law 126 of 2021 (LL126) adds another layer of responsibility to building owners. This law mandates an annual inspection of parapets, those often-overlooked structures that adorn our city's buildings. While the law primarily targets parking garage inspections, it's essential to note that parapet inspections are a crucial aspect of this regulation.
Pros and Cons of Renting and Coop NYC Ownership
Welcome to the dynamic world of New York City living, where choices abound and opportunities await. Navigating the housing landscape in the Big Apple is an exciting journey filled with decisions that can shape your lifestyle and financial future.
Understanding Separate Meetings and Seeking Common Ground
Have you ever found yourself in a situation where fellow board members are meeting without you? It can be disheartening and raise many questions. In a recent column on Brick Underground, a reader asked, “My fellow board members are meeting without me. What should I do about it”? The article provided valuable insights in response, with legal experts weighing in on the matter. While the summary conclusions were instructive, we wanted to delve deeper into this issue, as it's a scenario we often encounter.
The Art of Reference Checks for Co-op and Condo Boards
When it comes to the meticulous task of selecting service providers for your co-op or condo building, reference checks emerge as a crucial step in the decision-making process. As a conscientious board member, your commitment to running buildings like thriving businesses sets the stage for excellence. Here, we delve into the intricacies of reference checks, steering you through a labyrinth of questions to help you make informed choices that enhance your building's efficiency, safety, and sustainability.
Elevating Volunteer Board Members through Self-Education
In the dynamic world of cooperative (co-op) and condominium (condo) living, volunteer board members play a pivotal role in steering the ship toward a prosperous and harmonious community. These dedicated individuals come from diverse backgrounds, each contributing their unique expertise to the betterment of the shared living space. However, one trait stands out as a key differentiator in their effectiveness: curiosity and a commitment to self-education.
The Role of Supply-Demand Balance in LL97 Compliance
Hey there, visionary co-op and condo board members! Ready to take the reins of energy efficiency and ace Local Law 97 compliance?
Raise your hand if you want to write the annual letter to shareholders informing them that you will not face LL97 fines as you handled the energy efficiency upgrades early to meet NYC’s carbon emission limits! Let's dive into the heart of the matter: understanding the crucial dance between supply, demand, and the finite availability of HVAC equipment and installers. This knowledge is your secret weapon in navigating a greener, more cost-effective future for your building.
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.
5 Must-Know Hacks to Maximize Your Time!
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.
Embrace Sub-Metering in Master-Metered Buildings!
Sub-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.
Unlocking the Investment Potential
Even 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.
A Guide to Making Informed Co-op and Condo Buying Decisions
While 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.
Size and Layout in Your Dream Apartment
Discovering 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.
Understanding 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?
Navigating Budget and Affordability in Your Apartment Hunt
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.
Navigating the Urban Landscape
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.
5 Essential Tips
Welcome 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.
A Guide for Co-op and Condo Owners and Boards
If you own or serve on the board of a cooperative or condominium in NYC, you might feel unsure about what each person's roles and responsibilities are. This includes your staff, board members, and especially your property manager. Knowing who does what is really important for being a good neighbor and for boards to keep your building running smoothly.