Co-Op
Common Mistakes to Avoid When Hiring a Property Management Company
Hiring a Property Management Company can be a smart decision for property owners looking to reduce their workload and maximize their profits. However, not all property management companies are created equal, and making the wrong choice can lead to headaches and financial losses. To ensure that you choose the right property management company for your…
Read MoreApplications for a Co-Op May Be Rejected for These 6 Reasons
Nobody wins when a board rejects a co-op unit sale or purchase in New York City. The fact is, you have very little power over the board’s approval in co-ops in New York City.
Read MoreYou’ve Decided to Join Your Co-Op Board of Directors; Here’s What to Consider.
The co-op board members in New York City are often older than the other shareholders in a co-op building.
One argument is that operating a building is impractical for most people who are just starting their professions or families. Especially since serving on a board may be an onerous and time-consuming task that pays nothing.
Read MoreNYC Co-Op Boards Must Present Justifications for Rejecting a Buyer Under a New Bill.
Eliminating some of the mystery surrounding how New York City co-op boards operate is generating increased interest. New regulations would force co-op boards to provide written justifications for rejecting potential buyers.
Read MoreBefore Purchasing: 15 Questions To Ask About A NYC Co-Op Or Condo Building
When buying a co-op or condo in New York City, there are a number of crucial things you should ask. Others may be concerning limitations placed on you by the board or the terms of the seller. Some queries will be about the culture or vibe of the building.
Read MoreWhat Obligations and Time Requirements Come With Joining a Co-Op Board?
From building to building and board to board, situations will vary. There will be differences in the amount of time you devote to the position and the duties you have. Meetings are held at least once a month, along with the associated planning and follow-up. Contacting a current or former board member is one way…
Read MoreAlteration Agreements For Co-Ops
Nobody enjoys it when a neighbor’s continuous remodeling project lasts for months on end, especially when the renovations may cause damage to your own home. The alteration agreement, fortunately, is a mechanism that most buildings have in place to address issues for Co-Ops. Beginning the ProcessWhen shareholders consider a large-scale renovation, they should be prepared…
Read MoreCo-Ops vs. Condos: What’s The Difference?
Condos and co-ops are comparable, but they also have distinctive qualities that give residents a wide range of possibilities. The real estate market in New York City is unique from all others in the country in many respects. The fact that apartments for sale in NYC are either condominiums or co-ops is one of the…
Read MoreHow to Know When It’s Time to Switch Management Companies
It’s common for landlords to break up ties with their property management. Here are five explanations of why this occurs: Communication Breakdown: The property manager does not reply to calls, texts, or email messages from the landlord. The landlord could become upset by this as they feel ignored by the manager. One business day is…
Read MoreNoise Complaints in a Co-op
Your board may be within its powers to fine or take action against tenants for excessive noise, depending on the house rules in your building—and the proprietary lease if it’s a co-op. Residents frequently complain about loud late-night parties or unnecessarily loud music. Noise in an apartment building—and smells for that matter—can be very subjective…
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