HABITAT
HOW TO RUN YOUR BUILDING!
CONVERSATIONS WITH CO-OP & CONDO MANAGEMENT EXECUTIVES
Collecting Late Fees: A 3-Step Strategy for Co-ops and Condos
Discover how proper management of maintenance payments and common charges directly impacts your building's financial stability. Payments are typically considered late after the 10th of each month, with property management companies using software platforms like AppFolio to track payment patterns and identify potential issues.
For board members navigating the tension between neighborly relationships and financial responsibility, remember that timely payments are fundamental to operational success. Trust your managing agent's recommendations on collections, as they ensure utilities stay on and vendors get paid promptly—ultimately benefiting all residents through better building services and financial health.
Carol Ott of Habitat Magazine conducts the interview with Adam Reisman, President of Client Operations at MD Squared Property Group.
Board Talk
Engage, enrage, ask questions and give answers with your community of board members. Submit your questions and comments here!
Habitat Week by Week
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
Ask the Experts
learn moreLearn 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
Subscribe
join nowGot elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!
