New York's Cooperative and Condominium Community

Habitat Magazine July/August 2020 free digital issue

HABITAT

LEGAL/FINANCIAL


HOW LEGAL/FINANCIAL PROBLEMS ARE SOLVED BY NYC CO-OPS AND CONDOS

NYC co-ops and condos face legal and financial challenges that have to be solved. Whether it's a question of how to raise more money, how to deal with angry owners, or the best ways to work with a building's accountant or lawyer, co-op and condo board directors have to make decisions. The collection of articles here will help your co-op or condo board navigate these waters.

Co-ops stampede to take advantage of historically low interest rates.

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The Flip Tax Dodger

Written by Marianne Schaefer on July 16, 2020

New York City

How a board member got out of paying her co-op’s $40,000 flip tax.

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Co-op and condo boards are looking for ways to cover income shortfalls.

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Are Management Fees Due for a Day of Reckoning?

Written by Kathryn Farrell on July 02, 2020

New York City

Workloads are up and ancillary fees are down. Something has to give.

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Late-payment penalties would be cut in half, not eliminated.

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Lawsuit and new legislation seek to force insurers to pay claims.

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Co-ops and condos will continue losing income from commercial tenants.

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5 Steps to Take When Commercial Tenants Cannot Pay Rent

Written by Marianne Schaefer on May 07, 2020

New York City

Co-op and condo boards need to be flexible when income falters.

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Legislators say co-ops and condos should be eligible for federal aid.

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The Paycheck Protection Program is not available to all small businesses.

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Ask the Experts

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Learn 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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