HABITAT
How do NYC co-ops and condos operate? Governed by an elected board of directors, these housing corporations are like mini-cities with their own bylaws and governing documents. Here you'll find articles on a wide range of topics that co-op and condo board directors need to understand to govern their housing corporation wisely.
Disgruntled unit-owners can write a group letter demanding an election, then threaten legal action.
There are three crucial questions to address before imposing fines and late fees.
Is Your Co-op's Flip Tax Legal?
June 24, 2024
Co-op apartment sellers can challenge improperly implemented flip taxes.
Aggrieved shareholder has limited options in a co-op without a smoke-free policy.
Failure to provide accommodations can result in legal action and financial penalties.
Happy Memorial Day!!!
May 27, 2024
The Habitat Group wishes our readers a safe and happy Memorial Day 2024.
The board can amend the lease to include late fees and seek possession in housing court.
For Financial Stability, Co-op Boards Must Swiftly Address Delinquent Shareholders
Written by Carolyn Rualo, Partner, Adam Leitman Bailey, P.C. on May 16, 2024
Co-op boards must strategically approach maintenance arrears by familiarizing themselves with the proprietary lease terms, collaborating with legal counsel, and taking timely actions to uphold the financial integrity of the co-op.
License Agreement Essential for Facade Repairs and Building Renovations
Written by Gerard S. Strain, Partner, Goetz Fitzpatrick on May 09, 2024
Access to neighboring buildings for facade repairs and other renovations requires a license agreement, which includes architectural and engineering plans, a noise mitigation plan, and a license fee, with fees being reasonable and proportional to the complexity of the project.
The business judgment rule gives boards broad powers — if they act in good faith.
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Habitat Week by Week
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
Ask the Experts
learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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