HABITAT
For board members and property managers of co-ops and condos in New York City, there are legal and financial questions regarding new and old laws, accounting rules, auditing, and so much more. Here’s what you need to know to manage your finances and speak knowledgeably with your accountant and attorney.
Co-op and Condo Boards Must Pay Overtime to Live-In Supers
Written by Emanuela Lupu-Ferrante and Jack Malley on October 15, 2019
U.S. Department of Labor seeks to clarify confusion on staff pay.
City Failing to Collect Millions in Property Taxes
October 04, 2019
New report blasts lax practices by the Department of Finance.
Sponsors Must Now Pay Co-op Sublet Fees
Written by Bill Morris on October 03, 2019
Court ruling suggests holders of unsold shares must now pay sublet fees.
A Co-op Consolidates – and Protects – Its Reserve Fund
Written by Bendix Anderson on September 26, 2019
Ultra Money Market account allows board to park money in one place, worry free.
Lawsuit Seeks to Keep Water-Usage Data Available
September 18, 2019
City’s move to curtail access to records riles up building owners.
Lawyers for Disabled Plaintiffs Targeting Co-ops and Condos
Written by Marianne Schaefer on September 12, 2019
Fee-hungry lawyers profiting from Americans with Disabilities Act.
Is Property Tax Reform Dead Under de Blasio?
September 11, 2019
Deputy Mayor says hopes for an imminent overhaul are “unrealistic.”
The Art of the Turnaround at a Troubled Queens Co-op
September 10, 2019
A board took baby steps – and then went for the big fix.
A Budget Deficit Is a Recipe for Disaster
September 09, 2019
Keeping maintenance unrealistically low is not the way to go.
A Shabby Bike Room Is a Lawsuit Waiting to Happen
Written by Marianne Schaefer on September 05, 2019
A co-op board can't ignore a collapsing ceiling and waterbugs in a common area.
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