New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

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LEGAL TALK

Master Leases

Commercial tenants can provide a revenue boon, but sometimes it’s only for a sponsor, particularly when the lease goes on for decades. Taking a closer look at the master lease, though, can reveal oppo...

Smoking

Marijuana smoking is the nuisance that is causing more neighbor complaints, and dealing with the fallout is becoming a bigger problem for boards....

Alterations

Everytime an apartment is sold, the responsibility for any alterations should accompany the transfer. It’s up to the board to make sure this happens and it’s accomplished through the signing of an ass...

Business Judgment Rule

Boards sometimes think the business judgment rule is a safety bubble, that pretty much anything they do is protected. But it’s not fail-safe, and there are nuances they need to be aware of....

Eviction

Boards are certainly within their rights to go to court to evict shareholders who violate the proprietary lease by not residing in their apartment. Taking a less adversarial route, though, may be a sm...

Access

As mandatory facade work becomes more involved, demands for licensing fees can get downright outrageous. There may be a solution. ...

Transfers

Apartment sales trigger stock transfers, but so do other events. It’s not as simple as adding or deleting a name from the stock certificate, there’s homework to be done and legal procedures to follow....

Repairs

Before tackling maintenance and repair projects, condo boards need to check the caps in their governing documents on how much they can spend without owner approval. If yours haven’t been updated to re...

Fiduciary Duty

Their motives may be noble, but few co-op and condo board novices understand the weight of their responsibilities....

Short-term Rentals

Local Law 18, sometimes referred to as the short-term rental registration law, is coming for building owners who could be put on the prohibited building list....

Succession

In the unique world of Mitchell-Lamas, family members have the right to remain in the apartment after the shareholder passes — if they meet certain requirements....

Repairs

In condominiums, there can be a thin line between building maintenance work, which doesn’t require owner approval, and major alterations or improvements, which do. You need to know the difference....

Support Animals

When an emotional support animal behaves badly, boards need to know when— and how — they can draw a line in the sand....

Commercial Tenants

Delivery services and the pandemic put a double-whammy on brick-and-mortar commercial spaces. High rents are not coming back, and it’s time for boards to get realistic....

Bylaws

Common charges are a fact of life, but when commercial tenants butt heads with residents over costs, boards can look to their bylaws for a resolution. ...

Bylaws

The bar is set high when it comes to the support needed from your community to amend your bylaws. These strategies can help you clear it....

Insurance

Boards can control costs by getting shareholders to cover some risks. The goal is to reduce your building’s loss run to reduce premium increases....

Admissions

Co-op owners are shareholders in a corporation and the board must ensure a buyer can afford the financial commitment this brings....

Books & Records

Governing a co-op is not for the faint of heart. One of the biggest challenges is  communication — that is, what documents and information boards should, or shouldn’t, reveal to shareholders....

Foreclosure

Condo boards face particular challenges when it comes to foreclosing on unit owners who fail to pay common charges, especially when it comes to their bottom line. But for those that are mired in a pro...

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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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