While the dazzle of the latest energy reduction solutions is out of bounds for many co-ops and condos, the tried and true can often achieve just as much. That’s the case at the Imperial Sanford co-op in Queens, where substantial incentives boosted a fuel switch and window replacement program that is expected to reduce energy consumption by 65-70% or more. Evangelos Fantakos, CEO of Highrise Property Management, shares what the upgrades were, how much they cost and who they partnered with to achieve this success. Habitat’s Emily Myers conducts the interview.How To Run Your Building: For Co-ops and Condos

A primary responsibility of the board of directors is protecting the building’s financial health. To do that, transparency is paramount. In this episode Michell Abubo, managing partner at Highrise Property Management, shares a case study of a Queens co-op where a lack of transparency was deadly, ultimately leading to a change in management. Habitat’s Paula Chin conducts the interview.How To Run Your Building: For Co-ops and Condos

Board inertia is a corporate disease that many members grapple with. Decisions get put off, problems grow and ultimately the health of the housing association suffers. In this episode, Andy Marks, Executive Vice President at Maxwell-Kates, explores what causes inertia and offers some guidance on how to break through it. Habitat’s Paula Chin conducts the interview. How To Run Your Building: For Co-ops and Condos

A cautionary tale of facade repairs at an Upper East Side condo, where initial estimates of $550,000 ballooned to $1.2 million after engineers discovered insufficient brick ties during Local Law 11 inspections. Maxwell-Kates SVP Josh Holzer shares how the board navigated this crisis through refinancing, staff reductions, and a contractor payment plan. Habitat's Emily Myers conducts the interview.How To Run Your Building: For Co-ops and Condos

If a co-op or condo building operates at a deficit, there are only two outcomes – payables are late and cash erodes. That’s what Daniel Wollman, CEO of Gumley Haft, found when he was re-hired at a condominium his firm had managed over a decade ago. How its financial condition eroded and the steps it took to regain financial health are shared in this interview, conducted by Habitat’s Carol Ott.How To Run Your Building: For Co-ops and Condos

One of the most reliable sources of fuel for New York’s apartment buildings is gas, but the lines that it flows through — from heating to cooking — have become a critical concern because leaks often lead to complete gas shutdowns. AJ Rexhepi, CEO of Century Management, recounts how one board at a pre-war West Side co-op looked at their fuel options, considered their finances and decided to stick with gas — but not wait for the inevitable.  Habitat’s Carol Ott interviews Rexhepi to find out what they did.How To Run Your Building: For Co-ops and Condos

There are many strategies – and price points – that will reduce energy consumption in a building, and Stuart Halper, vice president of Impact Management, emphasizes an economically sensible approach. For many, there is a mismatch between New York City’s regulations and a building’s financial capabilities. In this interview conducted by Habitat’s Emily Myers, Halper reviews the steps that the majority of his clients are taking.How To Run Your Building: For Co-ops and Condos

There are two sides to every problem - and sometimes even more. When one crops up in a co-op or condo, someone has to step back, take a breath, maybe eat some crow, and get the issue resolved. In this episode, Josh Koppel, president of HSC Management, shares how an aggrieved shareholder was soothed and what it took to make that happen. This story has important takeaways for board directors and property managers. Habitat’s Emily Myers conducts the interview.How To Run Your Building: For Co-ops and Condos

Technology has made managing co-op and condo buildings more efficient and has certainly changed the property management business. But how has it impacted co-op and condo board directors, where has it created vulnerabilities and how does it come into play when a property changes management companies? Alvin Wasserman, Senior Director of Asset Management at Fairfield Properties, explores these issues in an interview conducted by Habitat’s Carol Ott.How To Run Your Building: For Co-ops and Condos

A bundle of projects at a downtown condominium was humming along smoothly - until they weren’t. A problem was discovered with the building’s vault which drove up expenses and suddenly costs exceeded what the board had raised for all the projects. Add in a hallway and lobby re-do, and suddenly trouble was brewing. Ira Meister, President of Matthew Adam Properties, shares the story of how the board overcame a shortage of funds and an obstructionist subletter. Meister is interviewed by Habitat’s Carol Ott.How To Run Your Building: For Co-ops and Condos

Sitting on the back burner of all the issues your board must think about are its governing documents. Often written in legalize, sometimes difficult to change and probably outdated, they may be out of sync with the needs and best practices of today. But it’s unwise to leave them to age quietly, says Neil Davidowitz, President of Orsid New York, and in this episode, hosted by Habitat’s Paula Chin, the benefits to updating these documents and the risks in not doing so are revealed.How To Run Your Building: For Co-ops and Condos

In the annals of gas inspections, this 45-unit co-op faced a unique one. The board learned from their plumber that the individual boilers and water heaters in each apartment were no longer code compliant. This meant the building wouldn’t be able to pass a gas inspection, and if there was a gas shutdown for any reason, it couldn’t be turned back on. Not good news for the board, and Margaret McAdams, Director of Management at Buchbinder & Warren tells Habitat’s Carol Ott how the board turned this gas doomsday scenario into a win for the co-op. How To Run Your Building: For Co-ops and Condos

With the cost of building projects getting more expensive each year co-op and condo boards need to anticipate owner concern. Here, Peter von Simson, CEO of New Bedford Management,  suggests it's well worth the time for board directors to discuss current and future projects - and the potential finances involved in tackling them - with apartment owners so they can plan accordingly. How To Run Your Building: For Co-ops and Condos

It's all about preparation, not only for the topics covered, but most importantly for vote taking. Mark Levine, Principal of EBMG, walks through the prep steps and vote tally process of running a virtual annual meeting.How To Run Your Building: For Co-ops and Condos

Creating a budget that merges capital planning with operations is no small feat.  Andre Kaplan, CFO of Orsid New York, explains how balancing the three mains parts of a co-op/condo budget will help your board maintain value and meet the city's regulatory requirements.How To Run Your Building: For Co-ops and Condos

The unexpected does occur, and when it does your co-op or condo better be prepared. Andy Marks, Senior Vice-President, Maxwell-Kates went through trial by fire on the first building he ever managed. He shares his experience here, the lessons he learned, and the steps he took to secure everyone's safety.How To Run Your Building: For Co-ops and Condos

The compliance landscape has changed today, and many projects which used to be just a capital improvement now have to be viewed through a compliance lense.  The question is, which budget bucket do you place it in , which projects can fill more than one bucket, which are the most impactful ones to do early and in what order should you do them? Chris Alker, Senior Vice President of Building Operations at Akam, offers a insight on how to chart this path.How To Run Your Building: For Co-ops and Condos

Lead is a substance no one wants to find in his or her apartment, or the common area of building either.  But it exists, and there are laws regulating who has to find it, who has to get rid of it, who's legally responsible, and who has to file lead notices with the city.  The law specifically targets rental apartments, and this includes co-op or condo owners who sublet their apartments. Josh Koppel, President of H.S.C Management, shares the story of a client who had a lead problem in one of its apartments.How To Run Your Building: For Co-ops and Condos

Property taxes are a perennial thorn in the side of a building's budget.  But they have to be budgeted for, and in many cases, protested. The process is fairly simple, but there are steps every building should follow to figure out the upcoming budget figure and the plan to protest the tax. In this episode, Armin Radonic, Principal at Venture NY Property Management explains.How To Run Your Building: For Co-ops and Condos

What action should co-op & condo boards take in light of today's hard insurance market? Anes Radoncic, Managing Partner of Venture NY Property Management offers some practical advice.How To Run Your Building: For Co-ops and Condos

Meeting the goals of New York's Carbon Mobilization Act can be a tall order for many buildings. In this episode, Fred Rudd, President of Rudd Realty, shares how one of his clients, the St. James Condominium, avoided a fine of $140,000 by investing $1.7 million dollars in energy and carbon reduction projects.  How To Run Your Building: For Co-ops and Condos

Co-op and condo boards have to be focused on the value of apartments in their buildings and adopt policies that support this. But these policies need to reviewed regularly because sometimes what worked one year doesn't work the next. Neil Davidowitz, President of Orsid New York, speaks about three common building policies that often need a re-think.How To Run Your Building: For Co-ops and Condos

Given today's rising interest rates, it may be tempting for boards whose mortgage is coming due to put off refinancing until the last minute. But whether interest rates are up or down, procrastination is never a good idea. Dawn Dickstein, President of MD Squared Property Group, shares a story of one co-op who learned this lesson the hard way. How To Run Your Building: For Co-ops and Condos

When a condo is making the transition from sponsor to board control serious structural issues are often uncovered. That's when management, says Drew Posner, Senior Vice President and Director of Client Services at Maxwell-Kates, turns to the bylaws and, most important, the Schedule B.  How To Run Your Building: For Co-ops and Condos

As tempting as it is to hire a contractor to get the job done, it pays to have oversight from a licensed professional. Ira Meister, President of Matthew Adam Properties, shares a story about one of their clients who ran into trouble when a manufacturer installed electric HVAC system basically shut down.  Without a professional overseeing the project, or even a maintenance contract from a service provider,  the co-op  was left in bad straits when the cooling component of the system shut down,How To Run Your Building: For Co-ops and Condos

 In the spring of 2022, New York mandated that for a co-op or condo to qualify for a property tax abatement, it had to pay its staff a prevailing wage. If a building was unionized, this didn't really have an impact. But for those buildings that had non-union employees, the impact has been significant. A.J. Rexhepi, Managing Partner at Century Management, explains the what boards need to weigh before making the wage decision.How To Run Your Building: For Co-ops and Condos

Complying with New York City's Climate Mobilization Act is not an easy task. You need a report from an energy professional and you need time to digest the information and find funding. Michael Wolfe, President of Property Management and Principal of FirstService Residential, shares some insights on what is needed, what boards can require of owners to prepare for the future and why ignoring the CMA is not a route he would recommend.How To Run Your Building: For Co-ops and Condos

A co-op's reserve fund reveals a lot about how well it operates. It sends a message about board planning, available resources and budgeting capabilities. Ignoring it is dangerous, and replenishing it takes planning and stick-to-itiveness. Mitch Unger, Controller and Principal of The Lovett Group, explains how one of their clients opted for replenishment and the way it accomplished it. How To Run Your Building: For Co-ops and Condos

Nobody wants a monthly maintenance increase, but today that is practically unavoidable. Stuart Halper, Vice President and Co-Owner of Impact Real Estate Management,  says the most important thing a board can do is to keep shareholders and unit owners informed. Sounds simple, but is often overlooked.How To Run Your Building: For Co-ops and Condos

New York City's Local Law 97 is presenting many co-op and condo boards with a vexing conundrum: invest now to avoid fines, or pay fines to avoid large investments. Gary Andriotis, Vice President of All Area Realty Services, points to funding sources that can help, and advises boards to budget now and share findings with your community.How To Run Your Building: For Co-ops and Condos

Sometimes board directors are understandably reluctant to raise monthly fees, or even to take care of building areas that don't affect them personally. But, says Daniel Wollman, CEO of Gumley Haft, it's management's job to guide boards into being better business thinkers sometimes take more progressive stances.How To Run Your Building: For Co-ops and Condos

Co-op and condo boards are caught between a rock and a hard place when it comes to emotional support animals. They have to tread very carefully to not run afoul of anti-discrimination laws and at the same time deal with any unhappy residents who object to the pet. Alvin Wasserman, Senior Director of Asset Management at Fairfield Properties, explains the  perilous path emotional support animals can cause.How To Run Your Building: For Co-ops and Condos