The importance of saving for a rainy day is a lesson we all learn as children. Just like we as individuals should put away a little something for that ‘just-in-case’ moment, co-op corporations and condominium associations must also keep res…
With few exceptions, most multifamily buildings or communities have at least one or two staff members (and sometimes many more) who maintain the safety, security, cleanliness, mechanical operations, and day-to-day functions that residents a…
In today’s world of high-tech property management and building security, there are more options than ever for managers and boards to choose from to keep their communities on the cutting edge. There are web- and device-based apps for everyth…
Like so many other sectors of the economy, residential real estate management has changed and evolved since the turn of the millennium—and like those other sectors, much of that evolution is directly linked to the development and adoption o…
Despite the best intentions of board members, residents, and even managers, co-op and condominium properties don’t always run like well-tuned machines. Sometimes they hit a bump in the road...and sometimes they break down completely. The re…
Economists often say that markets love consistency. So do condos and HOAs – and they share that preference for stability with another important group: insurance companies. Residential communities seek to keep their costs stable, and insuran…
Since their insurgence over the last dozen years, Airbnb, Homeaway/VRBO and other home-sharing sites using a similar model have provided travelers all across the globe with alternative – often more affordable – accommodation to hotels, mote…
Some lucky apartment owners can come home from work on a cold winter’s night and warm their feet by a roaring fire while drinking a hot toddy. A working fireplace is a coveted amenity for many, adding a dash of vintage charm to prewar apar…
Anytime you have hundreds, or even thousands of people living in close quarters – in a multifamily co-op or condo building, say – certain challenges will inevitably arise. One of the bigger ones is how to maintain the flow of fresh, hygieni…
No matter how well-constructed and carefully maintained, no mechanical system lasts forever – and that goes for elevator cabs and equipment just as much as it applies to roofs or boilers. At some point, your building’s vertical transportat…